Tata Projects emerges as Lowest Bidder for ₹889-cr Parliament Building Contract

Tata Projects has emerged as the lowest (L1) bidder for the construction of the new Parliament building in New Delhi involving an estimated investment of ₹889 crore. Out of the seven companies, which placed their technical bids, only two matched all the requirements. Tata Projects submitted a bid for ₹861.90 crore and Larsen & Toubro quoted a bid of ₹865 crore. Tata Projects is set to bag the contract to build India's new Parliament building as part of the government's Central Vista redevelopment plans and it is likely to be awarded the contract in the next few days. The tender for the mega project is being awarded a year after the Union Ministry for Housing and Urban Affairs (MoHUA) announced a plan to build the new Parliament building housing a new common central secretariat for all ministries and revamp the Central Vista running from Rashtrapati Bhawan to India Gate. The deadline for redevelopment and construction of the new Parliament building is 2022. A new triangular-shaped Parliament building will be constructed while the existing Parliament building will be revamped and the exterior structure of the historic building will be kept intact.