Reliance Infrastructure (RInfra) said Tuesday that its consortium has inked an MoU with Maharashtra State Road Development Corporation (MSRDC) for the Rs 70 billion 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 70 billion project on a competitive bid basis. The consortium had emerged the most competitive bidder with their bid of Rs 69.93 billion.
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 owning 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 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 Rs 176 billion 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.