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Anil pips Mukesh for Rs 6,000 cr project in Mumbai
Sunday, 02.24.2008, 09:41pm (GMT-7)

MUMBAI: Anil Ambani group company Reliance Energy outbid elder brother Mukesh's consortium to win the prestigious Rs 6,000-crore trans-harbor link project in Mumbai.Only Reliance Energy and a consortium led by Mukesh Ambani were in the fray for the prestigious project.

Anil's bid was first rejected by the state government on technical grounds at the pre-qualification stage but the government had to issue the bid document to him after a directive from the Supreme Court. The 22-km long bridge that will connect Sewri in Mumbai with Nhava-Sheva across the harbor will be the second longest seaway in the world, next to the one in China which is about 36 km long.

Earlier, Reliance Energy had won the the Rs 3,800 crore a metro link project for connecting the New Delhi Railway Station and the Indira Gandhi International airport. In the previous year, the company had Maharashtra's Minister for Public Works Anil Deshmukh told reporters that the work on the five-year project is expected to start by December this year.

Deshmukh said Reliance Energy-Hyundai Engineering will be required to give a performance guarantee of Rs 130 crore which will be over and above the Rs 26 crore which they have already paid as bid security.

He said Letter of Intent will be given to the company by March end. The company will be allowed a period of six months for financial closure - making financial arrangement for construction of the project. The bids for the six lane bridge were floated to find out the number of years the company winning the contract would collect the toll before handing over the bridge to the government.
-PTI

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