REL-Hyundai bags Mumbai Trans Harbour Link Project

Mumbai, Feb 20 (UNI) Anil Ambani-led Reliance Energy Limited along with Korea's Hyundai Engineering has bagged the Rs 6,000-crore 22-km Mumbai Trans Harbour Link Project bid pipping elder brother Mukesh.

Maharashtra Minister for Public Undertaking Anil Deshmukh told reporters that REL-Hyundai jointly quoted the period for toll collection at nine years and 11 months, while the Mukesh Ambani-led consortium comprising infrastructure lease and finance service, SKIL Infrastructure, and John Laing Construction Company had quoted the toll collection period at 75 years.

Mr Deshmukh said the letter of intent will be issued in March and the actual work of construction of the sea bridge, which will be number two in the world, will start in December 2008. REL has to complete the construction in five years.

Mr Deshmukh said the government will take Rs 130 crore as performance guarantee and security deposit of Rs 26 crore.

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