On Monday, Larsen & Toubro (L&T) announced that its construction unit has bagged a contract of Rs 5,000 crore from Rail Vikas Nigam Ltd (RVNL) in Uttarakhand.
The company in a regulatory filing said the construction arm of L&T has secured a large order for its heavy civil infrastructure business from Rail Vikas Nigam Ltd (RVNL) for package 4 of the new broad-gauge line between Rishikesh and Karanprayag in Uttarakhand, India.
As the company did not reveal the exact value of the contract, but according to its project classification, ‘large’ orders are those valued between Rs 2,500 crore and Rs 5,000 crore.
The scope of the project includes construction of tunnels, formation, construction shaft, and other ancillary works between Rishikesh and Karanprayag, the company added.
L&T said the entire project is to be completed within a stringent timeline of 60 months.
‘Establishing a rail link between Rishikesh and Karanprayag will not only facilitate easy access to Uttarakhand’s pilgrimage sites, but also enable development of backward areas, connect new trade centres, and serve the resident population.
“The railway line traverses rugged Himalayan terrains, with the alignment oriented across and sometimes sub-parallel to major thrust zones in the Himalayas with complex geological conditions,” said S V Desai, Whole Time Director and Senior Executive Vice President (Civil Infrastructure) L&T.
Shares of the company were trading 1.62 per cent lower at Rs 1,332.60 apiece on BSE