L&T Construction slumps 2 per cent despite bagging order from Rail Vikas Nigam in Uttarakhand
The construction arm of Larsen & Toubro Limited has bagged an order from Rail Vikas Nigam Limited (RVNL) for package 4 of the new broad-gauge line between Rishikesh and Karnaprayag in the state of Uttarakhand, India. The announcement was made soon after the market opened on Monday.
The scope of the project includes the construction of tunnels, formation, construction shaft, and other ancillary works from chainage 47+360 to 63+117 km between Rishikesh and Karnaprayag.
The project involves the construction of 14.577 km upline and 13.123 km downline tunnel with embankments of approximately 800 metres at both the ends. Out of 14.577 km and 13.123 km of tunnel, 10.49 km and 10.317 km of the tunnel will be excavated using two new hard rock tunnel boring machines (TBMs) of diameter 9.1 metres and the remaining using a new Austrian tunnel method (NATM).
The scope also includes the construction of an ellipsoidal-cum-ventilation shaft in the finished cross-section of 79 square metres with a depth of 32 metres. This will be the biggest TBM to be deployed in the Himalayan region in India. Meanwhile, the TBM bored tunnel length of 20.807 km will be the longest for any project in the Himalayan region.
The entire project is to be completed within a rigorous timeline of 60 months. The order is worth in the range of Rs 2,500-Rs 5,000 crore. It is already constructing package 2 of this prestigious project, involving 24 kms of tunnelling by the NATM, minor bridges and formation work.
On Monday, the stock of L&T slipped 2.1 per cent to Rs 1,326.80 from its previous close of Rs 1,354.60.