Reliance Infrastructure Consortium Submits PS – BG and MA - BG to MSRDC for Versova-Bandra Sea Link Project
Deepthi | Myequity news | Date : 14-09-2018 11:55:00 IST
Reliance Infrastructure Limited consortium has submitted Performance Security Bank Guarantee (PS - BG) and Mobilisation Advance Bank Guarantee (MA - BG) to Maharashtra State Road Development Corporation (MSRDC) for Versova Bandra Sea Link Project (VBSL). The consortium has submitted Rs. 350 crore of PS - BG and Rs. 385 crore of MA - BG to MSRDC.
The Reliance Infrastructure consortium has submitted the guarantees ahead of time for fast track completion of this prestigious project.
Reliance Infrastructure Limited - Astaldi S.p.A (Italy) Consortium had signed an agreement with MSRDC on September 04, 2018 for construction of prestigious Versova-Bandra Sea Link Project in Mumbai.
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. The other bidders in fray were L&T-Samsung and Hyundai Development Company-ITD.
The tender for the construction of second sea link in Mumbai on EPC-basis was floated by 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. About Reliance Infrastructure Limited EPC:
Reliance Infrastructure Limited EPC is part of Reliance Infrastructure Limited, which has a consolidated income of Rs 25,398 crore in FY 17-18, and business interests spanning diverse infrastructure segments such as Roads & Highways, Railways & Metros, Mega Civil projects, Water & Marine, and Renewable in addition to Power projects.