Reliance Infrastructure Limited consortium has submitted Performance Security Bank Guarantee (PS - BG) and Mobilisation Advance Bank Guarantee (MA - BG) to Maharashtra State Road Development Corporation (MSRDC) for 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 Reliance Infrastructure consortium has submitted the guarantees ahead of time for fast track completion of this prestigious project.
Reliance Infrastructure Limited - Astaldi S.p.A (Italy) Consortium had signed an agreement with MSRDC on September 04, 2018 for construction of prestigious Versova-Bandra Sea Link Project in Mumbai.
Reliance Infrastructure - Astaldi 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. 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.
Shares of RELIANCE INFRASTRUCTURE LTD. was last trading in BSE at Rs.440.15 as compared to the previous close of Rs. 457.1. The total number of shares traded during the day was 547848 in over 5061 trades.
The stock hit an intraday high of Rs. 453.4 and intraday low of 433.95. The net turnover during the day was Rs. 241857419.