The state government on Thursday finalized a Rs 2,500-crore deal with Larsen & Toubro for building a 210-metre tall Shivaji memorial, pegged as world’s tallest statue, off the Mumbai coast. L&T must complete the project in 36 months.
The government has been negotiating the cost with L&T for almost a year.
The infra giant, which had emerged as the lowest bidder in April 2017, had quoted Rs 3,826 crore— 60% over the state’s estimate of Rs 2,300 crore.
The firm finally agreed to bring down the cost to Rs 2,500 crore-plus taxes.
After handing over the letter of acceptance to L&T directors, CM Fadnavis said, “It’s a historic day. The project was envisaged years ago. This government has got all the permissions and with the same speed will complete the project. L&T will take a couple of months to finalize the design.