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New Parliament building to be constructed by Tata Projects Ltd

Tatas has won the contract of contructing the new Parliament building at a cost of Rs 861.90 crore. Tata projects have won the contract of constructing the new parliament building at a cost of Rs 861.90 crore, beating Larsen and Toubro.

India TV Business Desk India TV Business Desk
New Delhi Updated on: September 16, 2020 23:49 IST
New Parliament building, Tata
Image Source : FILE PHOTO

Tatas win contract to build new Parliament building.

Tatas has won the contract of contructing the new Parliament building at a cost of Rs 861.90 crore. Tata projects have won the contract of constructing the new parliament building at a cost of Rs 861.90 crore, beating Larsen and Toubro. The L&T had bid Rs 865 crore for building the new Parliament building.

As per reports, the construction of the new Parliament building will be completed in 1-2 years. Tata's won the contract after Central Public Works Department opened financial bids on Wednesday.

"The Tata Projects Limited has won the contract to build a new Parliament building," an official said.

The new Parliament building will be constructed close to the existing one under the Central Vista redevelopment project, and it is expected to be completed in 21 months.

According to the Central Public Works Department (CPWD), the new building will come up at plot number 118 of the Parliament House Estate.

The CPWD said the existing Parliament building will continue to function during the entire period of execution of the project.

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