The Tata Projects Ltd has won the bid to construct the new Parliament building at a cost of Rs 861.90 crore, officials said.
After the Central Public Works Department (CPWD) opened financial bids on Wednesday for the construction of the new building, Tata Projects Ltd submitted a bid worth Rs 861.90 crore, while Larsen and Toubro Ltd quoted Rs 865 crore.
The new building will be built as part of the Narendra Modi government’s plan to redevelop the Central Vista in New Delhi. Work on the building is likely to begin after the ongoing Monsoon Session of Parliament comes to an end, according to reports.
Last month, the government had come up with a shortened list of three Mumbai-based construction companies that would submit final bids for the new Parliament complex -- Larsen & Toubro, Tata Projects and Shapoorji Pallonji & Company.
The ambitious Central Vista project will cover the three-km stretch from Rashtrapati Bhavan to India Gate in Lutyens' Delhi. A Gujarat-based architecture firm called HCP Designs has already won the consultancy bid to redevelop the Central Vista. The revamp, announced in September last year, envisages a new triangular Parliament building, with seating capacity for 900 to 1,200 MPs, which is targeted to be constructed by August 2022 when the country will be celebrating its 75th Independence Day. The common Central Secretariat is likely to be built by 2024.