L&T bags construction order from Chennai Metro Rail Corporation

Infrastructure company Larsen & Toubro (L&T) on Friday said its construction arm has bagged an up to Rs 5,000 crore contract from Chennai Metro Rail Corporation. “The business has secured an order from Chennai Metro Rail Corporation Ltd (CMRL) to construct nearly 12 km twin bored tunnels from Kellys station to Taramani Road Junction station,” the company said in a regulatory filing.

L&T said the business has also secured another order from Chennai Metro Rail Corporation to construct approx 8 Km of elevated Viaduct with 9 elevated metro stations starting from Power House to Porur Junction including other associated works.

The engineering and construction company did not provide the exact value of the contract, but as per its project classification, “large” orders are those valued between Rs 2,500 crore and Rs 5,000 crore.

L&T said these projects are the first packages of phase – II which have been awarded by Chennai Metro Rail.

“Both the projects were bagged under stiff competition from domestic and international metro construction players,” the company added.

Shares of the company were trading 0.13 per cent higher at Rs 1,386.80 apiece on BSE.