Larsen & Toubro (L&T) said that it has bagged a third order for the Mumbai Ahmedabad High Speed Rail (popularly referred to as the bullet train project) from the National High Speed Rail Corporation Ltd.
Without disclosing the exact size of the order, the company said that it was “significant” and in the range of Rs 1,000-2,500 crore.
At 10:45 IST, shares of L&T were trading at 1922.95 on BSE, up almost 1% from the previous close.
The project, called ‘MAHSR-C-5’, entails design and construction of civil and building works for a double-line high-speed railway of a length of 8.198 km. It also includes construction of the major station of Vadodara and other key civil structures.
L&T had previously won two other projects (MAHSR – C-4 and MAHSR C-6) and is in the process of executing them. It won ‘MAHSR – C-4’, its biggest ever engineering, procurement and construction job worth around Rs 25,000 crore in October 2020.
The project is scheduled to be completed within 49 months, though the government was keen to get the bullet train project operational before general elections scheduled in 2024. The deadline has now been extended to 2026 due to delays in land acquisition and fund allocations. The project
India is setting up its first high-speed rail corridor with technical and financial assistance from the government of Japan. The total estimated cost of the project, which aims to reduce travel time between Mumbai and Ahmedabad to under two hours, is Rs 1.1 lakh crore. Of the entire amount, a majority would be financed by the Japanese International Cooperation Agency.
