RInfra Submits ` 735 Cr. Bank Guarantees for Sea Link Project

RInfra-Astaldi SpA (Italy) Consortium had signed an agreement with MSRDC on September 4, 2018 for construction of VBSL. The consortium has submitted ` 350 crore of PS-BG and ` 385 crore of MA-BG to MSRDC. The guarantees have been submitted ahead of time for fast-track completion of the project. Reliance Infrastructure (RInfra) said its consortium has submitted bank guarantees worth ` 735 crore to Maharashtra State Road Development Corporation (MSRDC) for Versova-Bandra Sea Link project. RInfra consortium has submitted Performance Security Bank Guarantee (PS-BG) and Mobilisation Advance Bank Guarantee (MA-BG) to MSRDC for Versova-Bandra Sea Link Project (VBSL). With a length of 17.17 km, VBSL is over three times the length of the existing Bandra - Worli Sea Link (5.6 km).