L&T Construction wins big contract from Rail Vikas Nigam for railway tunnels, bridges.
Date: December 19, 2019
Infrastructure major Larsen & Toubro’s Maharashtra order book may be at risk as the state government reviews big-ticket infrastructure projects, but the company has recently bagged several significant awards in India and abroad. The heavy civil construction arm of the company, L&T Construction, recently said it has bagged an order of around Rs. 1,000-2,500 crore from Rail Vikas Nigam (RVNL) for construction of tunnels, bridges and formation works in Uttarakhand.
The company has been awarded the contract for construction of the main tunnel, with a parallel escape tunnel and ballast-less track that runs inside the main tunnel, of Rishikesh-Karanprayag Tunnel 2, which is located in the Garhwal Himalayan Range and a part of the flagship Golden Quadrilateral railway project. The tunnel consists of a significant portion of the Rishikesh-Karanprayag project, which has a total length of 125.2 kilometers.
“This is a fast track project to be completed within stringent timelines,” the company said without specifying the project completion deadline. Earlier this month, L&T Construction also won power transmission and distribution contracts in Maharashtra. It also won significant contracts (project value between Rs 1,000 crore and Rs. 2,500 crore) in power and distribution in the Middle East, including a design, supply and construction order in the United Arab Emirates.
According to analysts, over 9% of L&T’s total order book of infrastructure projects is in Maharashtra. Analysts estimated a potential hit of Rs. 19,020 crore on the company as a result of Maharashtra government’s recent decision to review large infrastructure projects.