Tata wins contract to build new Parliament building for Rs 861.9 crores

New Delhi : Tata Projects Limited has won the contract to build an all new Parliament building for an allotted budget of Rs 861.9 crores.

Larsen and Turbo had submitted a bid of Rs 865 crores, approximately 3 crores more than Tata's bid. The government civic body had estimated a cost of Rs 940 crore.

The Central Public Works Department opened the financial bids for the construction of a new parliament building today.

The project is likely to be completed in a year.

Earlier this year, the government had justified its decision to build a new parliament building saying the current structure was "showing signs of distress and over-use".

In January, Lok Sabha Speaker Om Birla had said that in 2022, when the country celebrates 75 years of Independence, sessions would be held in the new building.