Tata Projects Limiteds financial bid of 861.90 crore for the construction and five-year maintenance contract of a new Parliament building was the lowest of the two bids opened by the Central Public Works Department (CPWD) on Wednesday, according to the bid documents.
An official spokesperson of Tata Projects Limited confirmed that the company was the lowest bidder and said it was likely to win the contract.
After seeking pre-qualification bids, in which seven companies applied, the CPWD, in June, narrowed the field to three potential bidders and gave them till 3 p.m. on Wednesday to submit their bids. While the Tatas bid was 8.4% less than the CPWDs estimated cost of 940 crore, Larsen and Toubro Limited submitted a bid of 865 crore, which was 8.07% less than the estimated cost. The third bidder, Shapoorji Pallonji and Co. Ltd., did not submit its bid by the deadline, an official of the Housing and Urban Affairs (HUA) Ministry said.
Citing security concerns and the nature of the project, the CPWD had opted for pre-qualification of potential bidders before inviting financial and technical bids. The project, which is a part of the HUA Ministrys larger Central Vista redevelopment plan announced last year, is scheduled to be completed in 21 months from the start of construction, according to the CPWDs invitation for bids.
The triangular shaped new building is proposed to be built adjacent to the existing Parliament, which was constructed in the 1920s. Last year, the CPWD selected Ahmedabad-based HCP Design, Planning and Management Pvt. Ltd. as its consultant for the Central Vista revamp. Apart from construction of a new Parliament, the project includes a new common central secretariat along the Rajpath after demolishing many of the existing government office buildings and redeveloping the Central Vista Avenue.