On Tuesday, January 16, L&T Construction announced to the stock exchanges that its railroads strategic business segment had won a “mega” contract to build a portion of the Mumbai-Ahmedabad bullet train project.
Per L&T, an order falling between ₹10,000 crore and ₹15,000 crore is considered a ‘mega’ order.
The Mumbai-Ahmedabad High-Speed Rail Project (MAHSR) has given the business the go-ahead to build 508 route km of high-speed electrification operations, according to a statement from a Japanese agency.
The work will include design, supply, manufacturing, construction, testing, installation and commissioning of a 2×25 kV power supply electrification system, which will include high speed overhead equipment, traction substations and MV/LV power distribution equipment works on a design-build lump sum price basis.
The project is being carried out by an authorised Japanese agency acting on behalf of the National High Speed Rail Corporation Ltd., with financing provided by the Japan International Cooperation Agency, according to a stock exchange filing.
“It is a first of its kind railway electrification project for India involving the implementation of Japanese Shinkansen High Speed Electrification Technology with sophisticated equipment including change over switches, heavy compound catenary system, etc.” the business stated.
When the electrification system is finished, trains will be able to reach speeds of up to 320 km/h.
According to SN Subrahmanyan, chairman and managing director of L&T, the MAHSR Project’s realisation will alter the nation’s perspective on long-distance travel. Rajeev Jyoti, the company’s managing director and chairman of the railways division, declared that this was the biggest order ever placed for a railway electrification project in India.
“The experience and technology transfer from this project shall help L&T in developing credentials for such future high speed rail projects in India and abroad,” he stated.
At 11:30 AM on Tuesday, January 16, L&T shares were up 0.68% at ₹3,567 a share.
Additionally, Larsen & Toubro shares touched an all-time high of ₹3,575.9 on Tuesday, January 9, after it stated L&T Construction got a ‘major’ order for its buildings and factories unit to establish a new AIIMS at Rewari in Haryana. It stated in a news statement.
According to the statement, the company obtained an order from HITES (A Mini Ratna PSU) within the health and family welfare ministry, valued between ₹1,000 crore and ₹2,000 crore.
Orders valued between ₹1,000 crore and ₹2,000 crore are considered “significant” by L&T.
