L&T awarded Rs 379 crore project
Larsen and Toubro has bagged a contract to build a new four-lane bridge across Narmada river at Zadeshwar about 90 km away from Vadodra. The National Highway Authority of India (NHAI) awarded the contract after Hindustan construction company (HCC) failed to abide by the tender condition. NHAI estimates the project to be completed within 30 months at an estimated cost of Rs 379 crore. L&T has earlier, on February28, indicated in a BSE filing that the order has been received.
The project involves six laning of the Vadodra-Surat section of National Highway-8 including construction of a new four lane extra dosed bridge across the Narmada River and two eight lane flyovers from Jhagadia and Bharuch city under the NHDP Phase V. The project has got the approval of the cabinet committee on economic affairs.
Under earlier model, HCC was required to raise fund from its own source and construct the model under BOOT (built, own, operate and transfer). Later, NHAI decided to construct it from its own fund, bringing down the cost of the project.
Source: The Economic Times
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