The statue that's being designed as the world's tallest will be built by Larsen & Toubro (L&T). The 182-metre bronze statue of India's first Home Minister Sardar Vallabhbhai Patel, a project championed by Prime Minister Narendra Modi, is intended to be twice the size of New York's 'Statue of Liberty'.
Larsen & Toubro won the contract for Rs 2,979 crore through a bidding process for the project referred to as the Statue of Unity, the company said. Turner Construction, which built the world's tallest skyscraper Burj Khalifa in Dubai, will act as consultant.
The statue will be located on a river island in Gujarat, about a two-hour drive from the city of Baroda, L&T's senior executive vice president SN Subrahmanyan told NDTV today. It will take 42 months to execute, he said. L&T has not compromised on margins or profitability to win the project, he added. (Watch)
In July, Finance Minister Arun Jaitley announced in his budget speech that the government has set aside Rs 200 crore to help fund the construction of the Statue of Unity.
Mr Modi launched the project half a year before he was elected prime minister in May to honour Sardar Patel. Many in Gujarat feel his legacy has been neglected by the Congress party.
Mr Modi had said that every Indian "regrets Sardar Patel did not become the first prime minister. Had he been the first prime minister, the country's fate and face would have been completely different."
(With inputs from Reuters)