L&T secures order for construction of Statue of Unity

28 Oct 2014 Evaluate

Larsen & Toubro (L&T) has secured order for construction of the Statue of Unity, World’s tallest statue in the riverbed of Narmada near Kevadia in Gujarat. The work order is worth Rs. 2,979 crore.

The Statue of Unity project involves construction of 182-metre tall statue of Sardar Vallabhbhai Patel. The project was announced by Prime Minister Narendra Modi on October 31, 2013, the birth anniversary of the ‘Iron Man of India’.

Of the total contract of Rs. 2,979 crore, Rs 1,347 crore will go towards building the statue, Rs 235 crore for constructing the exhibition centre and convention centre, Rs 134 crore for research and development centres and Rs 83 crore for building the bridge connecting memorial with the mainland. The construction will take place on the Sadhu bet, an island approximately 3.5 km south of Sardar Sarovar Dam at Kevadia.

As per the terms of agreement, L&T will be responsible for maintenance and management of the project site for 15 year after the completion of construction. L&T will be paid Rs. 657 crore for the same. The construction of the statue is likely to be completed in the next 42 months.

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