New Delhi, Oct 30 (UNI) Reliance Energy Ltd (REL) today said it has approved a proposal to transfer its infrastructure projects to a separate 100 per cent owned subsidiary.
The Anil Ambani owned REL's current portfolio consists of infrastructure projects covering development of roads, bridges, metro rail and real estate.
REL in the last two years has emerged as the largest developer of road and highway projects for the National Highways Authority of India under the build, own, transfer scheme, a company statement said.] REL is presently involved in the four-laning of five National Highway projects in Tamil Nadu, covering a length of 400 kms at a cost of Rs 3,100 crore.
In addition REL is currently pursuing a number of other large road projects including the Rs 5,000 crore, 20-km- Western Freeway Sealink Project, to connect Worli to Nariman Point in Mumbai, and the Rs 6,000 crore Jaipur Ring Road Project for the construction of a 12-lane, 150 km-long highway around Jaipur.
Reliance Energy-led consortium has emerged as the preferred bidder for the development of a new business district over an area of 77 acres in Hyderabad City.
REL led consortium has been awarded the first ever metro rail project in Mumbai city.
The 35-year Public-Private Partnership, based on the build, own, operate and transfer model, involves the development and operation of a fully elevated metro rail.
The total cost of the project is over Rs 2,500 crore. It will connect Versova to Ghatkopar, through Andheri, reducing the travel time from the current 90 minutes to less than 22 minutes.