New Delhi: Reliance Infrastructure (RInfra) said on Tuesday that its consortium has inked a 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.
The other bidders in the 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 owing to the monsoon, the work would be completely stalled for three months each year.
The largest order executed by Astaldi SpA is Izmit Bay Bridge (Gebze-OrhangaziIzmir Motorway Project) in Turkey with $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 the sea and two cable stay bridges, which was opened to the traffic in December 2016.
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Updated Date: Sep 04, 2018 16:24:02 IST