R Infra-Astaldi JV bags Rs 7,000 cr Versova-Bandra sea link project

PTI

Published : May 7, 2018, 1:10 pm IST

Updated : May 7, 2018, 1:10 pm IST

The JV has bagged the engineering, procurement and construction (EPC) contract for Versova-Bandra sea link.

New Delhi: Reliance Infrastructure(RInfra) and Astaldi S p A (Italy) in a joint venture have bagged Rs 7,000 crore order for construction of the second sea link in Mumbai.

The JV has bagged the engineering, procurement and construction (EPC) contract for Versova-Bandra sea link, RInfra said in a BSE filing.

"The letter of award (LoA) for the project has been issued by Maharashtra State Road Development Corporation (MSRDC). RInfra-Astaldi JV had emerged the most competitive bidder with bid of Rs 6,993.99 crore," it added.

RInfa said the other bidders in the fray were L&T-Samsung JV and Hyundai Development Company-ITD JV. The 17.17 km long Versova-Bandra project will be three times the length of the existing Bandra-Worli sea link.

The project is to be commissioned in 60 months, the company said. Shares of RInfra were trading 1.53 per cent higher at Rs 428.50 apiece on BSE.