HDC Hyundai Development Company has won a road construction project on the southern coast of Mumbai, India.
According to the construction industry on July 22, a joint venture between HDC Hyundai Development Company and Hindustan Construction Company (HCC), an Indian construction company, was selected as the preferred bidder for the construction of the 2nd section of the Mumbai Coastal Road Construction project.
The joint venture between HDC Hyundai Development Company and HCC took part in the main bid with a bidding price of 22.6 billion rupees (about 362.8 billion won or US$321.4 million), which was about 30 percent higher than the projected bidding price of 16.6 billion rupees by the client.
In addition tothe joint venture between HDC Hyundai Development Company and HCC, L&T (Larsen & Toubro) of India and Chinese construction company participated in the bid for the second section.
The southern coastal road project in Mumbai is divided into four construction sections. The client is Mumbai City, which oversees development projects for Mumbai. In this project, the second section landed bythe joint venture between HDC Hyundai Development Company and HCC is a road between the Baroda region and the Worli area in Mumbai.
In Mumbai, India, some people were killed or injured when a pedestrian overpass in a train station broke down shortly after the start of the monsoon season last month. In October of last year, the government announced a plan to build a road of 83,000 km by investing seven trillion rupees over the next five years.
"We have not received the LOA from the client yet," said an official of HDC Hyundai Development Company.
On the other hand, HDC Hyundai Development Company’s winning the order is expected to contribute to increasing Korean companies’ participation in large-scale Indian infrastructure projects such as the Nagpur-Mumbai highway project. In particular, the Nagpur-Mumbai highway project is a mega project that builds an eight-lane road about 700 kilometers long that links Mumbai in west of Maharashtra, India, and Nagpur in the northeast region of India. The project will cost 460 billion rupees in total as a national project undertaken by the Maharashtra State Road Development Corporation.