Tatas win contract to build new Parliament building for Rs 861.9 crore

Tata Projects will take up the initiative to build the new parliament building at a cost of  Rs 861.90 crore.

The company had outbid Larsen and Toubro to be granted approval for the project.

Three companies from Mumbai--Larsen & Toubro Limited, Tata Projects Limited, and Shapoorji Pallonji & Company Private Limited were in the final race to bid for the contract.

Larsen and Toubro fell short after submitting a bid of Rs 865 crore.

The Central Public Works Department opened the financial bids for the construction of a new parliament building on Wednesday.

The new parliament complex is supposed to be designed in the shape of a triangle. Currently, the parliament building is circular, a structure persisting from the British era.

The Centre had wanted to build the new parliament complex as the old structure was "showing signs of distress and over-use".

Centre had also said that the ok Sabha was likely to have more numbers after the reorganization of constituencies, and the current building had no space for an extra member in the house. The new complex is supposed to have halls with a bigger seating capacity for the Lok Sabha and the Rajya Sabha,courtyard, dining facilities and a lounge for lawmakers.

It is expected to be complete by 2022.