Business News/ Markets / Stock Markets/  L&T bags another big contract from Mumbai-Ahmedabad bullet train project

The transportation infrastructure business of L&T Construction, the construction arm of Larsen & Toubro, has secured another mega contract from the National High-Speed Rail Corporation Limited (NHSRCL) to construct 87.569 km of the Mumbai-Ahmedabad High Speed Rail (MAHSR) project, popularly referred as the Bullet Train project, the company said. L&T classifies contracts upwards of 7,000 crore in the mega category.

L&T shares were 2% higher at 1172.20 in early trade today. The stock had surged 6% in the previous session after the company's construction and mining equipment business secured one of its biggest-ever order.

This latest order to construct the C6 Package of Mumbai-Ahmedabad High Speed Rail (MAHSR) project comes on the heels of the earlier one for the C4 Package of the project, the biggest EPC contract awarded in the country to date, involving the construction of a 237.1 km stretch, L&T said.

The scope of the MAHSR – C6 package includes the construction of viaducts, one station, major river bridges, maintenance depots, and other auxiliary works. This particular package represents 17.2% of the total length, running elevated from the outskirts of Vadodara to the outskirts of Ahmedabad with one station at Anand/Nadiad.

“This is yet another recognition of our capabilities to construct mega projects to speed and scale and we are grateful to the Government of India, Ministry of Railways, Indian Railway Board and NHSRCL for reposing faith in us to execute another huge package of this prestigious project," said SN Subrahmanyan, CEO & Managing Director, Larsen & Toubro. “The Bullet Train project is the first sure sign of our economy kick-starting again, certainly a huge shot in the arm for the Indian infrastructure sector and another opportunity to drive the Make in India and Atmanirbhar Bharat Abhiyan."

The approximately 508 km Mumbai-Ahmedabad High-Speed Rail project will cover 155.76 km in the Maharashtra, 4.3 km in the Union Territory of Dadra & Nagar Haveli and 348 km in the State of Gujarat with 12 stations along the route.

Upon completion, the High-Speed Rail will operate at a speed of 320 kmph, covering the entire distance in approximately 2 hours with limited stops and in 3 hours with all stops, L&T said.

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Updated: 19 Nov 2020, 09:48 AM IST
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