Construction firm Astaldi has been selected for three lots of the Mumbai metro rail project, worth €168 million (US$207.7 million), marking the Italy-based company’s entry into the Indian market.
Astaldi’s share of the contract is worth €84 million (US$103.8 million).
It was said that the Indian market offered major development opportunities for Astaldi’s infrastructure sector and helped the company to strengthen its de-risking policy.
In line with its de-risking policy, Astaldi is entering the market in partnership with one of India’s leading contractors, Reliance Infrastructure Limited, with which Astaldi is also assessing additional opportunities at the local level in the transport infrastructure sector.
The joint venture was chosen by the Mumbai Metropolitan Region Development Authority and the project will be financed by state funds.
The design and build contract is for the development of approximately 20km of railway viaduct and 18 stations – all elevated – along the North-South Metro Line 4, as part of a project to link the Wadala district in the centre of Mumbai with the Thane district to the north-east of the city.
The work is divided into three lots: the Wadala-Chembur section, which includes 6.4km of viaduct, six stations and two interconnections; the Gandinagar Junction-Bhandup Sonapur section, which includes 6.7km of viaduct and six stations; and the Kapurbawdi-Kasarvadavali section, which includes 6.8km of viaduct and six stations.
The new railway corridor is intended to better connect the northern and southern parts of the city of Mumbai.
The project is expected to take 30 months to complete.