Tatas Win Contract To Build New Parliament Building For Rs 861.9 Crore6Photo2Video© news18.com

Tatas Win Contract To Build New Parliament Building For Rs 861.9 Crore

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Tata Projects Limited’s financial bid of ₹861.90 crore for the construction and five-year maintenance contract of a new Parliament building was the lowest of the two bids opened by the Central Public Works Department (CPWD) on Wednesday, according to the bid documents.

After seeking pre-qualification bids, in which seven companies applied, the CPWD, in June, narrowed the field to three potential bidders and gave them till 3 p.m. on Wednesday to submit their bids. While the Tata’s bid was 8.4% less than the CPWD’s estimated cost of ₹940 crore, Larsen and Toubro Limited submitted a bid of ₹865 crore, which was 8.07% less than the estimated cost. The third bidder, Shapoorji Pallonji and Co. Ltd., did not submit its bid by the deadline, an official of the Housing and Urban Affairs (HUA) Ministry said.

Citing security concerns and the nature of the project, the CPWD had opted for pre-qualification of potential bidders before inviting financial and technical bids. The project, which is a part of the HUA Ministry’s larger Central Vista redevelopment plan announced last year, is scheduled to be completed in 21 months from the start of construction, according to the CPWD’s invitation for bids.