Shares of Reliance Infrastructure gained by 2% to Rs1212 after the company in consortium with SNC Lavolin Inc. Canada and Reliance Communication were awarded Mumbai Metro-II Project on BOT basis for a concession period of 35 years with an extension clause of another 10 years.
The project has been awarded by Mumbai Metropolitan Region Development Authority through an international competitive bidding process. The estimated project cost is about Rs.110bn and is scheduled to be operational by 2015.
