Comments
Anil Ambani-led Reliance Infrastructure (RInfra) has received a letter of award from the Maharashtra State Road Development Corporation (MSRDC) for the 17.17-km Versova-Bandra Sea Link project in Mumbai, the company said in the statement.
Reliance Infrastructure bagged the engineering, procurement and construction (EPC) contract project in partnership with Italian construction major Astaldi S.p.A after bidding ₹6,993.99 crore, lower than other bidders, but higher than MSRDC’s initial estimate of ₹5,500 crore.
Joint ventures of ITD Cementation-Hyundai Engineering and L&T Infrastructure-Samsung C&T were among the other bidders.
The Versova-Bandra Sea Link, part of an ambitious coastal road project connecting south Mumbai to the western suburbs, is expected to be completed within five years.
Metro project
MSRDC is yet to get the environmental clearances for the project.
Earlier this year, the consortium of Reliance Infrastructure and Astaldi won a ₹1,584-crore order for construction of three packages of the Mumbai Metro Line 4 project.
The new contract takes Reliance Infrastructure’s EPC order book – that includes orders for several road, metro and railway projects and thermal and nuclear power plants – to around ₹27,500 crore.
RInfra had last month reported a 291 per cent rise in its consolidated net profit for the fourth quarter of 2017-18. The company’s net profit increased to ₹160 crore from ₹41 crore for the same period a year ago.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.