Reliance Infrastructure consortium submits performance security bank guarantee for Versova Bandra Sea Link Project
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.
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