RInfra wins ~70 bn EPC order for Versova-Bandra Sea Link
Anil Ambani-promoted Reliance Infrastructure (RInfra) on Monday said it had won the engineering, procurement and construction (EPC) contract for the Versova-Bandra Sea Link Project in a joint venture (JV) with Astaldi (Italy) for a value of ~70 billion.
“The RInfra-Astaldi JV had emerged the most competitive bidder with their bid of ~69.93 billion,” the company said.
RInfra is expected to commission this project in five years.
According to the press release, Larsen & Toubro-Samsung JV and Hyundai Development Company-ITD JV were the other bidders competing for this project. Maharashtra State Road Development Corporation is the nodal agency for implementing this project and a letter of award for executing the project was been given to the RInfra-Astaldi JV.
The Versova-Bandra Sea Link is the second leg of the project to improve the city’s road connectivity through sea links.
The first phase involved developing the 5.6-km Bandra-Worli Sea Link, which started operations in 2009 after much delay and cost escalation. The Bandra-Worli Sea Link was completed with a budget of close to ~16 billion.
“With a length of 17.17 km, the Versova-Bandra Sea Link is three times the length of the existing Bandra-Worli Sea Link. This would be the largest urban infrastructure project of its kind in India,” the company said.
The Versova-Bandra Sea Link has been on the drawing board for several years. Its earlier proposed form involved a distance of 10.1 km and a project cost of ~19 billion to ~30 billion.
For RInfra, the ~70-billion EPC award will help it further improve its order book. As of March 2018, the company’s total order book stood at ~205 billion, comprising various road, power, Metro, and other EPCrelated works.
In its earlier statement, RInfra said the company was targeting EPC opportunities worth ~2 trillion and will look to increase its order book to ~500 billion by the end of the current financial year.
RInfra is expected to commission this project in five years