L&T wins $384m contract for Shivaji statue in India

WCN Editorial Team 6 Mar 2018 ASIA BUSINESS

India-based engineering major Larsen & Toubro (L&T) has won an INR25bn ($384.25m) contract from the Government of Maharashtra, India for the construction of a 210m-high statue of Maratha warrior king Shivaji in the Arabian Sea.

The state government gave the letter of acceptance to the city-based engineering major that will build the memorial on an engineering, procurement and construction model.

The government had received three bids from Reliance Infrastructure, Afcons Infrastructure and L&T in the second round of bidding.

In the first round of bidding for the project two years ago, L&T had quoted INR38.26bn ($588.05m), INR13.26bn ($203.8m) more than the cost estimated by the government. Therefore, the government rejected the bid.

The government had put the overall project cost at INR36bn ($553.32m), with INR11bn ($169.07m) for the second phase. The entire cost of the project will be funded by public money.

While RInfra lost the bid on technical competition round, Afcons quoted a project cost of INR47.79bn ($734.53m).

The project will be built on 6.8 hectares of reclaimed land in the middle of the Arabian Sea off the Malabar Hill in south Mumbai.

The state government had sought approval from the Maharashtra Coastal Zone Management Authority to increase the height from 192m to 210m to make the statue the world’s tallest monument.

The government had sought approvals from 10 different state and central departments.

The government wanted the statue to be taller than the 208m Spring Temple Buddha statue in China, built on a hill, which was completed in 2008.

The Shivaji memorial will feature a temple, museum, hospital, entrance modelled on the Raigad Fort and a theatre showcasing highlights of the Maratha warrior king’s life. The Raigad Fort was the headquarters of the late emperor.

A public interest litigation (PIL) was filed in the Bombay High Court last in January 2018 against the project seeking to scrap the plan.

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