Ambani siblings battle for Mumbai's makeover
Mukesh and Anil Ambani face off over Metro rail bid in their third encounter after split, reports Madhurima Nandy.business Updated: Sep 08, 2007 10:19 IST
Three face-offs over multi-crore projects in the last 26 months.
The latest battleground for India’s richest brothers is the bid to build the second Metro rail project in Mumbai, which will have 27 stations costing nearly Rs 6,192 crore.
With 250 cars added to the city every day, the Metro link will help ease traffic congestion.
While five other companies are also bidding for the elevated rail corridor from Charkop to Mankhurd via Bandra — the 31.87-km journey will take just 45 minutes when completed — eyes will be on Mukesh and Anil Ambani.
Airports, power and gas have been at the centre of their fights. Anil Dhirubhai Ambani Group alleges that Mukesh’s group is violating a non-compete clause, which prevents them from competing in the existing line of businesses.
Among those competing for the latest Metro project are Anil’s Reliance Energy, Mukesh’s Reliance Industries, GVK, Larsen & Toubro and IL&FS.
“Seven out of eight consortia have been shortlisted in pre-qualification. The bidders would be given 45 days to submit their technical and financial bids,” Milind Mhaiskar, joint metropolitan commissioner of the Mumbai Metropolitan Regional Development Authority, told HT. The first 11.7-km Metro line between Versova and Ghatkopar is being developed by Reliance Energy.
The pre-qualification round is the first major step in the bidding process. Each consortium is evaluated on its financial net-worth and the value of projects they have completed so far.
The project will be developed through public-private partnership on a Build-Own-Operate-Transfer basis and is expected to roll out by end-2011.
First Published: Sep 08, 2007 03:22 IST