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L&T-led JV bags Rs275 cr order from DMRC

L&T-led JV bags Rs275 cr order from DMRC
PTI
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First Published: Mon, Nov 19 2007. 02 31 PM IST
Updated: Mon, Nov 19 2007. 02 31 PM IST
Mumbai: Engineering and construction firm Larsen & Toubro (L&T), along with Shanghai Urban Construction (Group) Corporation, has bagged a contract worth Rs275 crore from Delhi Metro Rail Corporation Limited (DMRC).
“The JV is the first of its kind with a Chinese partner. With its past experience in DMRC’s phase-I tunneling projects and ongoing Phase-II projects, L&T would add value in successful completion of the project along with SUCG’s vast experience in tunneling projects in Shanghai,” L&T President (Construction) and member of the board, K V Rangaswami said.
The Design-and-Build contract is for the construction of a 2.4 km underground twin-tunnel starting from the IGI Airport Station to Dwarka Sector-21. The contract is to be completed in 120 weeks.
L&T is the lead partner in the 51:49 joint venture with Shanghai Urban Construction (Group) Corporation, the company informed the Bombay Stock Exchange.
Out of the six underground packages already awarded by DMRC under Phase II projects, L&T and L&T JV have so far bagged five contracts at a total value of Rs925 crore and with this new order, the cumulative value of orders aggregates to Rs1,200 crore.
Shares of the company were trading at Rs4,381, up 0.12% on the BSE in the afternoon trade.
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First Published: Mon, Nov 19 2007. 02 31 PM IST
More Topics: DMRC | Larsen & Toubro | Construction | Tunnel | BSE |