Mumbai, Sep 12 (UNI) Maharashtra State Road Development Corporation

Limited (MSRDC) has received Performance Bank Guarantee (PBG) and

Advance Bank Guarantee (ABG) from Reliance Infrastructure consortium

for the Versova-Bandra Sea Link Project. MSRDC Ltd has received

Rs 350 crore as PBG and Rs 385 crore as ABG for the prestigious

project.

MSRDC Ltd has received guarantees ahead of time from Reliance

Infrastructure consortium for fast-track completion of the project.,

a release said

MSRDC Ltd had signed an agreement with Reliance Infrastructure

Limited - Astaldi S.p.A (Italy) Consortium 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.

MSRDC Ltd had floated the tender for the construction of second sea

link in Mumbai on EPC-basis. 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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