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

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

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.