Business IdeasRInfra bags Rs 1,000 cr Kandla-Mundra road project in Gujarat
After bagging the Pune-Satara highway project last week, R-Infra, a unit of Anil Dhirubhai Ambani Group (ADAG) has now bagged the Rs 1,000 crore Kandla-Mundra Road Project from NHAI.
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The Rs 1,725 crore Pune-Satara highway project was also bagged from the National Highways Authority of India (NHAI).
"Reliance Infrastructure has won the Rs 1,000 crore Kandla-Mundra road project, spanning 71 kilometres, in Gujarat," a source said.
"The company has quoted the maximum premium amount (negative viability gap funding) worth Rs 42 crore, among five other contestants. The GVK-led consortium, coming second, had quoted a premium of Rs 30.6 crore," the source said.
The project, scheduled to be completed by December 2012, entails the upgradation and maintenance of Gandhidham (Kandla)-Mundra Port stretch, which links the Kandla and Mundra ports in Gujarat.
The bidding process for the project was initiated during February this year. Of the 20 bidders qualified for the financial bidding stage, six participated in the bidding.
Of this, four companies offered a premium to the NHAI, while the rest demanded grants from the authority, the source said.
Meanwhile, the Pune-Satara highway that Reliance Infrastructure bagged on December 4 was based on a premium offer worth Rs 90.90 crore.
The company intends to increase its exposure to highway projects to Rs 20,000 crore by 2012 from the present Rs 7,500 crore.