te Reliance Infrastructure consortium inks pact with MSRDC for 7K cr Versova-Bandra sea link project | Zee Business

Reliance Infrastructure consortium inks pact with MSRDC for 7K cr Versova-Bandra sea link project

Reliance Infrastructure consortium inks pact with MSRDC for 7K cr Versova-Bandra sea link project
Reliance Infrastructure - Astaldi has to commission the project in five years from the appointed date, Image source: Reuters

Reliance Infrastructure (RInfra) said Tuesday that its consortium has inked an MoU with Maharashtra State Road Development Corporation (MSRDC) for the Rs 7,000-crore Versova-Bandra Sea Link Project in Mumbai.

"Reliance Infrastructure Limited - Astaldi SpA (Italy) Consortium signed an agreement with MSRDC today for construction of prestigious Versova-Bandra Sea Link Project in Mumbai," the company said in a statement.

Reliance Infrastructure-Astaldi had earlier bagged the engineering, procurement and construction (EPC) contract for the Rs 7,000 crore project on a competitive bid basis. The consortium had emerged the most competitive bidder with their bid of Rs 6,993.99 crore. 

TRENDING NOW

The other bidders in fray were L&T-Samsung and Hyundai Development Company-ITD, it said in a statement adding that the tender for the construction of the second sea link in Mumbai on EPC basis was floated by the MSRDC. 

With a length of 17.17 km, Versova-Bandra Sea Link is three times the length of the existing Bandra-Worli Sea Link, which is 5.6 km, the statement said.

Reliance Infrastructure EPC CEO Arun Gupta said, ?This project will further propel Reliance Infrastructure as a premier EPC company in India. Our partnership with Astaldi S.P.A, the third biggest construction player in the world in bridges, will help us create a truly world class mega infrastructure project for Mumbai.

Reliance Infrastructure - Astaldi has to commission the project in five years from the appointed date. 

However, the company said that owning to monsoon, the work would be completely stalled for three months each year. 

Watch Zee Business video here:

The largest order executed by Astaldi SpA is Izmit Bay Bridge (Gebze-OrhangaziIzmir Motorway Project) in Turkey with USD 7 billion (Rs 45,500 crore) investment for the entire project, the statement said. 

Besides, Astaldi has also executed the Western High Speed Diameter Motorway in Saint Petersburg in Russia with Euro 2.2 billion (Rs 17,600 crore) contract value, it added. 
The project has a 12-km section with 5.3-km viaducts on sea and two cable stay bridges, which was opened to the traffic in December 2016.

Written By: PTI
Updated: Tue, Sep 04, 2018
05:54 pm
Mumbai, PTI
RELATED NEWS
Reliance Infra Q1 Results: Net loss narrows in June quarter, consolidated income jumps | Highlights Reliance Infra Q1 Results: Net loss narrows in June quarter, consolidated income jumps | Highlights
RInfra Latest News: Overwhelming majority! Rs 550 cr! Shareholders support fund raising plan of Reliance Infrastructure RInfra Latest News: Overwhelming majority! Rs 550 cr! Shareholders support fund raising plan of Reliance Infrastructure
Why Anil Ambani Group shares—Reliance Infra, Reliance Capital, Reliance Power, RHFL — are rising? | All you need to know Why Anil Ambani Group shares—Reliance Infra, Reliance Capital, Reliance Power, RHFL — are rising? | All you need to know
Reliance Infrastructure (RInfra) to raise over Rs 550 crores! Preferential issue to promoters, Varde Investment Partners APPROVED - Check key details here Reliance Infrastructure (RInfra) to raise over Rs 550 crores! Preferential issue to promoters, Varde Investment Partners APPROVED - Check key details here
Reliance Communications shares plunge by 10%, Reliance Infra down 5% despite Anil Ambani's big talk Reliance Communications shares plunge by 10%, Reliance Infra down 5% despite Anil Ambani's big talk

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x