The Hindu Business Line : Three companies bid for Iconic Tower project

Mumbai, Oct. 2 Three companies, including Reliance Infrastructure of the Anil Ambani Group, have submitted bids for the Rs 4,000- crore Iconic Tower and Inter State Bus Terminal (ISBT) at Wadala in central Mumbai.

A panel of experts will evaluate the bid documents and declare the winner soon.

The project will come up on a 14-hectare plot owned by the Mumbai Metropolitan Region Development Authority, which is also the project implementing authority. It will qualify for four FSI (floor space index).

Reliance Infra is part of a consortium with China Building Technique Group Co. Essar Realty Holdings is also in the race and has teamed up with Leighton Contractors (India) and Al Habtoor Engineering Enterprises Co (LLP), Dubai. Australia-based Hyder Consulting is a sole bidder without any partners. The bidder who offers the highest annuity payment will get the contract.

The mammoth project would be on a design, build, own, operate and transfer basis under a public-private partnership arrangement. The proposed 531 metre and 101 storey tower will be higher than Petronas Towers in Malaysia (by 79 metres). It will have 60 lakh sq ft of built-up space and is comparable to the Dubai Burj tower with 25 per cent extra built-up area to boot.

The estimated construction of cost is about Rs 10,000 per sq ft. 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 will be done up by the tenants.

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