In a bid to fast track the mega infra project, a Reliance Infrastructure-led consortium has submitted Performance Security Bank Guarantee (PS-BG) and "Mobilization Advance Bank Guarantee" (MA-BG) to MSRDC for the Versova-Bandra Sea Link Project (VBSL). The consortium has submitted ₹350 crore of PS-BG and ₹385 crore of MA-BG to MSRDC, claimed sources, elaborating that the Reliance Infrastructure consortium has submitted the guarantees ahead of time for fast tracking the completion of this prestigious project. The RInfra - Astaldi S.p.A (Italy) Consortium had signed an agreement with MSRDC early this month for the construction of Versova-Bandra Sea Link Project in Mumbai. The consortium had earlier bagged the engineering, procurement and construction (EPC) contract for the ₹7,000 crore project on a competitive bid basis and had emerged the most competitive bidder with their bid worth ₹6,993.99 crore.
