Outbidding L&T with only Rs 3.1 crore, Tata Projects Limited on Wednesday grabbed the contract to build the new Parliament building as a part of the government’s Central Vista redevelopment plans. The Tata group company reportedly offered to execute the project for Rs 861.9 crore while the L&T bid was Rs 865 crore.
Confirming the reports, the official spokesperson for Tata Projects stated- “We are delighted to contribute to accelerating India’s progress.” According to sources, Tata projects would start the construction works after the monsoon session of Parliament, which ends on October 1. The project is likely to be completed in a year with an overall estimated cost of Rs 940 crores.
The current parliament building, built during the British era, is circular and is one of India’s most acclaimed monuments. The Central Vista Redevelopment initiative includes the construction of a Central Secretariat and redevelopment of the Central Vista, which is the hub of some of the most recognisable government buildings, including Rashtrapati Bhavan.