The MMRDA has received three bids for its INR 4,000 crore Iconic Tower and Inter State Bus Terminal at Wadala in Mumbai.

The three companies which have submitted bids are

1. Reliance Infrastructure in consortium with China Building Technique Group Company

2. Essar Realty Holdings in collaboration with Leighton Contractors of India and Al Habtoor Engineering Enterprises Company of Dubai

3. Australia based Hyder Consulting

The project is expected to be developed on a 14 hectare plot owned by the MMRDA, which is also the project implementing authority. The tower is likely to qualify for four FSI. It is expected to be developed on a DBOOT basis under PPP arrangement.

Developers will be asked to build the outer shell with provision for basic amenities including security system, lifts, air conditioning, communication and electrical systems. The interiors are likely to be done up by the tenants.

(Sourced from Project Today)