Wilmington, Dover, Newark Indian Community - DEIndian.com
| | | | | | | | | | |
 


 

RInfra submits bank guarantees for Versova-Bandra Sea Link Project


Maharashtra,Business/Economy


Author : Indo Asian News Service

Business/Economy, India, Maharashtra Read Latest News and Articles

Share With Your Friends

Add To My Favorite     Add A Picture

Add an Article

View All Contributions

Mumbai, Sep 14 (IANS) A Reliance Infrastructure-led consortium has submitted "Performance Security Bank Guarantee" (PS-BG) and "Mobilisation Advance Bank Guarantee" (MA-BG) to Maharashtra State Road Development Corporation (MSRDC) for the Versova-Bandra Sea Link Project (VBSL).

"The consortium has submitted Rs 350 crore of PS-BG and Rs 385 crore of MA-BG to MSRDC," the company said in a statement on Friday.

"The Reliance Infrastructure consortium has submitted the guarantees ahead of time for fast track completion of this prestigious project."

The Reliance Infrastructure (RInfra) Limited - Astaldi S.p.A (Italy) Consortium had signed an agreement with MSRDC on September 4, for the construction of Versova-Bandra Sea Link Project in Mumbai.

The consortium 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 fray were L&T-Samsung and Hyundai Development Company-ITD.

The tender for the construction of second sea link in Mumbai on EPC-basis was floated by MSRDC. At 17.17 km, the Versova-Bandra Sea Link is three times the length of the existing Bandra-Worli Sea Link, which is 5.6 km.

--IANS

rv/mag/vm



Latest Showbiz News

View More News


More News Articles

MNS demands that music labels pull down Pakistani artistes' works

Emphasis on opening weekend biz damaging art of cinema: Swara Bhasker

My hubby Karan a dream co-star: Bipasha Basu

Glad to be in industry at the right time: Ankita Lokhande

Sidhu no longer part of "The Kapil Sharma Show"