Larsen & Toubro (L&T) announced on Tuesday that its construction division has secured a substantial contract to establish an electrification system for the high-speed bullet train project in India. The contract was awarded by an authorized Japanese agency overseeing the project.
According to the company’s filing with the Bombay Stock Exchange (BSE), the railways strategic business group of L&T Construction will undertake the construction of 508 route kilometers of high-speed electrification system works for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Project, commonly known as the bullet train project.
Upon completion, the electrification system will facilitate train speeds of up to 320 kilometers per hour. The project is financially backed by the Japan International Cooperation Agency (JICA) and is being executed by an authorized Japanese agency on behalf of the National High-Speed Rail Corporation Ltd.
While the exact value of the contract remains undisclosed, L&T categorizes it as a ‘mega’ order when its valuation falls within the range of Rs 10,000-15,000 crore.
The company emphasized that the expertise gained and technology transfer from this endeavor will enhance L&T’s capabilities for future high-speed rail projects both in India and internationally.
As of 11:30 AM on Tuesday, January 16, L&T shares were trading 0.68% higher at ₹3,567 per share.
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