Few days ahead of the Union Budget 2021, on Friday, January 29, Infrastructure company Larsen & Toubro (L&T) announced that it has received an up to INR 2,500 crores contract for Mumbai-Ahmedabad high-speed rail corridor project. However, the company did not provide the exact value of the contracts.
In a statement, it said the orders fall under "significant" category which ranges between INR 1,000 crores and INR 2,500 crores as per its classification of contracts.
The order is to procure, fabricate, assemble, paint and transport 28 bridges, the company added. Moreover, the country’s first Bullet Train project is the Modi government’s flagship collaboration with Japan.
This high-speed rail corridor project is being implemented by National High-Speed Rail Corporation Limited (NHSRCL), based on Japanese E5 Shinkansen technology.
L&T stated that the order is to procure, assemble, fabricate, paint as well as transport 28 bridges. The company further stated that the project was secured through a consortium of L&T and IHI Infrastructure Systems (IIS) of Japan.
Shares of L&T were trading 2 per cent higher at INR 1361 apiece on NSE as on February 1.
Meanwhile, there are questions being raised by the ruling Maha Vikas Aghadi (MVA) government for disapproval of this project. Besides, farmers have also been protesting in Maharashtra and Gujarat
The ambitious 508 km long Mumbai-Ahmedabad high-speed rail corridor project for which PM Narendra Modi along with then Japan PM Shinzo Abe, had laid the foundation stone in September 2017, is expected to generate more than 90,000 direct and indirect jobs during the construction period. The Bullet Train project is expected to boast speeds of over 300 km per hour.
Other than Mumbai – Ahmedabad Bullet Train project, feasibility studies have been sanctioned by the national transporter for seven more high-speed rail corridors including Delhi – Ahmedabad, Delhi – Amritsar, Varanasi – Howrah, Delhi – Varanasi, Mumbai – Hyderabad, Mumbai – Nagpur, Chennai – Mysore rail corridors.
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