Tata Projects has won the contract to build India’s new Parliament building as a part of the government’s Central Vista redevelopment plans, beating Larsen & Toubro.
The Tatas won the bid over Larsen and Toubro (L&T) with a bid of Rs. 861.90 crore. Larsen and Toubro had bid the total cost of construction of the new parliament at Rs. 865 crore.
Earlier, the Central Public Works Department opened the financial bids for the construction of a new parliament building.
The new building will be constructed in a triangular shape at "Plot Number 118" of the Parliament House Estate in Delhi, adjacent to the present one.
The total time of completion of the project is one year. It is scheduled to be completed by 2022, in time for the celebration of 75 years of India’s independence.
The building is a part of the Centre's Central Vista Redevelopment initiative which includes the construction of a Central Secretariat and redevelopment of the Central Vista, including Rashtrapati Bhavan. The total cost of the redevelopment plan is Rs 20,000 crore.