Business

RInfra submits bank guarantees for Versova-Bandra Sea Link Projec


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.


Top Stories

Leave a Comment

Title : RInfra submits bank guarantees for Versova-Bandra Sea Link Projec


 
 
 
 

 
You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.


Security Validation

Enter the characters in the image