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SC allows Reliance Energy to bid for Mumbai Trans Harbour Project

SC allows Reliance Energy to bid for Mumbai Trans Harbour Project
PTI
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First Published: Tue, Sep 11 2007. 12 35 PM IST
Updated: Tue, Sep 11 2007. 12 35 PM IST
New Delhi: The Supreme Court on 11 September allowed Anil-Ambani controlled Reliance Energy Ltd to bid for Mumbai Trans Harbour Link Project.
A bench headed by Justice S.H. Kapadia, while setting aside the High Court order, directed Reliance Energy to submit its financial bid for the project within three months.
The Maharashtra State Road Development Corporation Ltd had earlier decided to disqualify an Anil Ambani-led consortium from the global bidding process for the country’s longest sea link expressway to be constructed at an investment of Rs2,600 crore.
The Bombay High Court on 4 June had stayed the opening of the bids for four weeks till 2 July, which was later extended by the Supreme Court.
Incidentally, Mukesh Ambani-led Sea King Infrastructure was reportedly a front-runner for the project.
The Anil Ambani-led consortium that includes Hyundai Engineering and Construction Company Ltd, was reportedly a front-runner for the project and had challenged MSRDC’s decision to disqualify it from participating in the bidding process on the ground that its major partner Hyundai did not meet the criterion of Rs200 crore net worth.
While seeking to set aside the decision to disqualify the consortium, REL stated that the company on its own was capable of meeting the net worth for the entire consortium.
It had further sought a direction to the Maharashtra government to allow the consortium to participate in the second stage of the bidding process and issue Request for Proposal Documents for the project.
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First Published: Tue, Sep 11 2007. 12 35 PM IST