Reliance Infra surges 4% on Rs 7,000 crore order win

NEW DELHI: Shares of Reliance Infrastructure climbed 4 per cent in intraday trade on Monday after the company won order worth Rs 7,000 crore for Versova-Bandra Sea Link Project in Mumbai.

The Anil Ambani-led company in its BSE filing said Reliance Infra and Italian firm Astaldi in joint venture have bagged the engineering, procurement and construction (EPC) contract for the prestigious Versova-Bandra Sea Link Project in Mumbai. The letter of award (LoA) for the project has been issued by Maharashtra State Road Development Corporation (MSRDC).

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.


“Our JV with Astaldi, the third biggest construction player in the world in bridges with an order backlog of over Rs 2 lakh crore, will help us create a truly world-class mega infrastructure project for Mumbai," said Reliance Infrastructure Limited EPC CEO, Arun Gupta.

At 02:21 pm, shares of the company were trading at Rs 437.90, up 3.68 per cent on BSE.