Reliance Infrastructure Ltd-Astaldi S.p.A (ITALY) Consortium Sign Agreement with Maharashtra State Road Development Corporation for Versova-Bandra Sea Link Project in Mumbai
Deepthi | Myequity news | Date : 04-09-2018 16:30:00 IST
Reliance Infrastructure Limited - Astaldi S.p.A (Italy) Consortium signed an agreement with Maharashtra State Road Development Corporation (MSRDC) today 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 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.
Speaking on the occasion, Reliance Infrastructure Limited EPC CEO, Arun Gupta, said,“We are very proud of having won this prestigious project, one of its kinds in India. 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 5 years from the appointed date. However, owning to monsoons, the work would be completely stalled for three months each year. Therefore, the consortium will effectively have just over three and a half years to complete the complex project.About Reliance Infrastructure Limited:
Reliance Infrastructure Ltd is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector. Reliance Infrastructure Limited is also a leading utility company having presence across the value chain of power businesses i.e. Generation, Transmission, Distribution and Power Trading.