L&T bags 750 Crore contract from NHAI

April 20, 2006

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Larsen and Toubro Ltd (L&T) has bagged a Rs 750 crore order from the National Highways Authority of India for six laning of the NH-8 in Gujarat.

The Build-Operate-Transfer project entails widening of the existing four-lane highway to six lanes, from Vadodara to Bharuch, with amenities and support infrastructure.

The project would be domiciled in a special purpose company called L&T Vadodara Bharuch Tollways Ltd, formed exclusively for the project, the company informed the Bombay Stock Exchange.

The company would design, finance, construct and operate the highway section for the 15-year concession period, it added.

The proposal includes construction of 10 major and 36 minor bridges, 11 new flyovers, pedestrian and cattle crossings at specified locations and other junction improvements. The company would put in place modern toll collection systems and highway traffic management systems, it said.

“This project is located on the corridor with the highest traffic density in the country and is one of the most prestigious six laning projects being offered on BOT basis on the Golden Quadrilateral,” Company board member and senior executive vice president (operations) KV Rangaswami said.

“The project has a strategic fit with company’s core competencies in infrastructure development. We will be taking up more of such challenging construction and engineering projects to set high standards in the India’s road
sector,” he said.

The shares of the engineering and construction major were trading at Rs 1,905.50, up 3.99 per cent at the BSE.