Reliance Infrastructure gains 2% on contract for 3 out of 5 packages of Mumbai Metro Line-4
Date: April 14, 2018
Reliance Infrastructure share price gained more than 2 percent intraday Friday on bagging contract for three out of five packages of Mumbai Metro Line-4.
The Anil Dhirubhai Ambani Group company has received the letter of award from the Mumbai Metropolitan Region Development Authority (MMRDA) for three packages worth Rs 1,584 crore for the construction of Mumbai Metro for the NorthSouth Metro-4 corridor which will run between Kasarwadavali in Thane and Wadala.
The company had participated in the tender for engineering, procurement and construction (EPC) contracts for five packages in a joint venture with ASTALDI SPA, Italy.
"The scope of work includes, part design and construction of elevated viaduct and elevated stations (excluding architectural finishing and pre-engineered steel roof structure of stations) of Line - 4 Corridor (Wadala to Kasarvadavali) of Mumbai Metro Rail Project of MMRDA. This includes entry and exit structures of the stations," the company said.
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The consortium of Reliance Infrastructure and ASTALDI was awarded Package-8 on the Metro-4 corridor which is from Central Harbour suburbs Wadala to Chembur; Package-10 which is from Gandinagar junction to Bhandup Sonapur on LBS road; and Package 12 from Kapurbawdi to Kasarvadavali in Thane.
The company said it is keenly pursuing project opportunities worth around Rs 2 lakh crore to increase its EPC order book to Rs 50,000 crore by FY19.
At 12:32 hours IST, the stock price was quoting at Rs 462.85, up Rs 10.50, or 2.32 percent on the BSE.