RInfra-Astaldi S.p.A JV Wins Rs 7000 Cr Versova-Bandra Sea Link Project | CORPORATE ETHOS

RInfra-Astaldi S.p.A JV Wins Rs 7000 Cr Versova-Bandra Sea Link Project

By: | May 7, 2018
Rinfra

May 7: Reliance Infrastructure Ltd (RInfra), a part of the Reliance Anil Dhirubhai Ambani Group, on Monday announced that the company and Astaldi S.p.A (Italy) in joint venture have bagged the engineering, procurement and construction (EPC) contract for the Versova-Bandra Sea Link Project in Mumbai. The letter of award (LoA) for the project has been issued by Maharashtra State Road Development Corporation (MSRDC), according to the company.

“Reliance Infrastructure Limited-Astaldi S.p.A JV had emerged the most competitive bidder with their bid of Rs 6,993.99 crore. The other bidders in fray were L&T-Samsung JV and Hyundai Development Company-ITD JV,” it said.

“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,” the company added.

Speaking on the occasion, Arun Gupta, Reliance Infrastructure Ltd EPC CEO, said, “our JV with Astaldi S.p.A, the third biggest construction player in the world in bridges with an order backlog of over Rs 2 lakh crore, will help us create a truly world class mega infrastructure project for Mumbai.”

RInfra shares were trading at Rs 426.75, up 1.11% from the previous closing of Rs 422.05, on BSE at 11.59 am today.