L&T’s Construction Arm Wins Order To Build India’s Longest River Bridge
The construction arm of Larsen & Toubro Ltd. has won a “large” order to construct India’s longest road bridge across the river Brahmaputra.
The 19-kilometre-long bridge will be built between Dhubri in Assam and Phulbari in Meghalaya, the company said in an exchange filing. The company defines “large” orders as those valued between Rs 2,500 crore and Rs 5,000 crore.
The company had emerged as the lowest bidder for the project, valued at Rs 3,200 crore, PTI reported on Nov. 16, citing an unnamed National Highways & Infrastructure Development Corporation official.
The bridge will reduce the distance between Assam and Meghalaya by 250 kilometres, according to the company. The only way to travel between the two places at present is by ferry which takes up to 2.5 hours.
The structure will be constructed along the national highway 127-B and will feature a navigation bridge of 12.62 kilometres, approach viaducts of 3.5 kilometres on the Dhubri side and 2.2 kilometres on the Phulbari side, according to the filing. It will also be connected with approach roads and interchanges on both sides.
Not only will it be an important passage for offering easier access to our North Eastern international borders but will give a huge fillip to trade and commerce in the region for the accelerated development of all the North Eastern States especially Assam, Meghalaya, Tripura and the Barak Valley.SV Desai, Whole-time Director & Executive VP (Civil Infrastructure), Larsen & Toubro
“Domestic order flow is 97% and augurs well for future margin outlook,” Jefferies India analyst Lavina Quadros wrote in a note. “We expect Q3 order flow to increase 20% year-on-year based on the announcements made so far.”
Shares of Larsen & Toubro gave up gains to decline as much as 1.8% to Rs 1,114.6. The stock currently trades lower by 1%.
Out of the 41 analysts that track the company, 38 have a ‘Buy’ recommendation, two suggest ‘Hold’ while the other has a ‘Sell’ call.