Workers labor on metal pipes at a construction site. (Photographer: Asim Hafeez/Bloomberg)  

Reliance Infrastructure-Led Group Bags Rs 7,000-Crore Versova-Bandra Sea Link Project

Reliance Infrastructure Ltd. and Astaldi SpA (Italy) in a joint venture have bagged a Rs 7,000-crore order to construct the second sea link in Mumbai.

The joint venture has bagged the engineering, procurement and construction contract for the Versova-Bandra sea link, Reliance Infrastructure said in a BSE filing.

“The letter of award for the project has been issued by the Maharashtra State Road Development Corporation. RInfra-Astaldi joint venture had emerged as the most competitive bidder with a bid of Rs 6,993.99 crore,” it said.

Reliance Infrastructure said the other bidders in the fray were L&T-Samsung joint venture and Hyundai Development Company-ITD joint venture.

The 17.17-km Versova-Bandra project will be three times the length of the existing Bandra-Worli sea link. The project is to be commissioned in 60 months, the company said.

Shares of Reliance Infrastructure today closed 6.24 percent higher at Rs 448.40 apiece on the BSE.