Reliance Infrastructure and Astaldi S.p.A (Italy) 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).

Reliance Infrastructure-Astaldi S.p.A JV had emerged the most competitive bidder with their bid of Rs 69.93 billion. The other bidders in fray were L&T-Samsung JV and Hyundai Development Company-ITD JV.

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.

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

The largest order executed by Astaldi S.p.A is Izmit Bay Bridge (Gebze-Orhangazi-Izmir Motorway Project) in Turkey with US$7b (Rs. 455 billion) investment for the entire project. It is the fourth longest suspension bridge worldwide that was completed in April 2016.

Shares of the company gained Rs 1.7, or 0.4%, to trade at Rs 423.75. The total volume of shares traded was 130,949 at the BSE (11.28 a.m., Monday).