MMRDA floated the tender in January 2024 with an estimated cost of $71 million. Four firms submitted bids, with three qualifying for the financial evaluation stage. IRCON emerged as the lowest bidder with an offer of $75 million—just 6.71% above MMRDA’s estimate.

Financial Bids (? billion/million):

IRCON International – Rs 6.27 billion ($75 million) Larsen & Toubro (L&T) – Rs 8.34 billion ($100 million) Ashoka – PMPL – RVNL JV – Rs 10.8 billion ($130 million)

The contract covers the design, supply, installation, and commissioning of critical metro systems, including:

Power supply & traction system Electrical & mechanical (E&M) systems Lifts & escalators at 13 elevated stations

Additionally, the project includes five years of comprehensive maintenance after a two-year defect liability period.

With IRCON’s bid only marginally exceeding the estimate, MMRDA is expected to award the contract in the coming weeks.