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Anil edges out Mukesh in bid

February 21, 2008

Construction of the Mumbai Trans Harbour Link, a 21-km-long inshore bridge spanning Sewree on Mumbai Island and Nhava, the second longest bridge on the earth, will commence in December next and completed in five years from then, according to Maharashtra Public Works Minister Anil Deshmukh.Mr. Deshmukh said that the bid submitted by the Anil Ambani-led consortium of Reliance Energy and Hyundai of Korea won the contract for the prestigious project, defeating the consortium of IL&FS, SKIL Infrastructure and John Laing Construction led by his brother, Mukesh Ambani.

The bids were opened on Wednesday. The project worth Rs.6,000 crore is on a BOT (build, operate and transfer) basis. The Anil Ambani consortium bagged it for they had said they would collect the toll charges from user-vehicles for nine years and 11 months while his brother’s bid had quoted toll charges for 75 years.

The successful bidder will bear the entire cost of the project and transfer it to the state after operating it for the period. Mr. Deshmukh said that the toll charges were fixed, Rs.150 for light vehicles and Rs.250 for heavy vehicles. It is estimated that 50,000 vehicles use the trans-harbour bridge every day.

But the usage would go up because of developments such as new airport, expansion of the Nhava Sheva Port (Jawaharlal Nehru Port) and SEZ. The consortiums led by the Ambani brothers were the only rivals in the final round.

Mr. Deshmukh said that the letter of acceptance of the bid will be issued in March next.

Source: hindu.com

Written by ITW Editor · Filed Under Default 

Reliance Energy is top bidder for Mumbai trans-harbour link project

February 20, 2008

A consortium led by Anil Ambani group company Reliance Energy Ltd (REL) has emerged top bidder for the Rs6,000 crore Mumbai trans-harbour link project.Maharashtra State Road Development Corporation (MSRDC) today opened financial bids for the 25-km six-lane project. However, no confirmation could be obtained from either MSRDC or REL.

Mukesh Ambani-led Reliance Industries group was also in the race for the project to build a trans-habour link between Sewri in Mumbai and Nava-Sheva across the creek in Navi Mumbai.

Sources said the REL-Hyundai combine quoted a lower concession period for the build-operate-transfer (BOT) project of nine years and 11 months as against 75 years quoted by the Mukesh Ambani-controlled Sea King Infrastructure.

Phase-I of the project will comprise a six-lane dual carriageway linking Nhava to Sewri and Phase-II, which is expected to be added in 2015 -18, will consist of a double track rail link that will run parallel to the road link on the north side.

The Rs6,000 crore project is slated for completion in five years. The REL-led consortium can charge Rs250 per heavy vehicle and Rs120 for cars and light commercial vehicles as toll charges.

Source: domain-b.com

Written by ITW Editor · Filed Under BOT, Construction, Maharashtra, Projects, Reliance 

Reliance Energy Ltd(REL) to hive off infrastructure projects

November 12, 2007

NEW DELHI: In a bid to separate the power and infrastructure projects, Reliance Energy Ltd. (REL) has now decided to transfer all its infrastructure projects to a separate wholly-owned subsidiary.

The REL board had already given its approval to the proposal.

The move comes hot on the heels of REL deciding to hive off its power generation business as a separate company — Reliance Power Limited (RPL).

RPL has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public cffering (IPO) of around Rs. 12,000 crore.

The decision to hive off infrastructure portfolio to a new subsidiary comes in view of the increasing portfolio of the company on this account in recent months.

REL is developing highways for the National Highways Authority of India (NHAI) under the build-own-transfer (BOT) scheme.

It is involved in five National Highway projects in Tamil Nadu, covering a length of 400 km at a cost of Rs. 3,100 crore. In addition, it is pursuing road projects, including the proposed Rs. 5,000 crore Western Freeway sea-link project connecting Worli and Nariman Point in Mumbai and the Rs. 6,000-crore Jaipur Ring Road project.

On the real estate side, the REL-led consortium had emerged as a winner for developing a business city in Hyderabad with an estimated investment of Rs. 6,500 crore. The city will be built in 77 acres, which will include a 100-storey trade tower. It has also bagged the metro rail project in Mumbai that involved the development and operation of a fully-elevated metro rail.

The total cost of the project is around Rs. 2,500 crore. It has also bid for line 2 of the Mumbai metro elevated track between Mankhurd and Charkop with an estimated investment of Rs. 6,500 crore. The company is also bidding for the Rs. 6,000 crore Mumbai trans-harbour link.

Source : The Hindu

Written by ITW Editor · Filed Under BOT, Construction, Highway, Hyderabad, Infrastructure, Investment and Finance, Maharashtra, NHAI, Projects, Reliance