The buildings & factories business of L&T Construction has bagged an EPC order worth Rs 29.89 billion for the design and construction of the Statue of Unity from the Government of Gujarat. The Statue of Unity has been the dream project of Prime Minister, Narendra Modi.

The 182 metres (597 feet) bronze statue of Sardar Vallabhbhai Patel will be built on the Sadhu-Bet Island, approximately 3.5 km south of Sardhar Sarovar Dam at Kevadia in the Narmada district of Gujarat. Once completed, the Statue of Unity will be the tallest in the world.

"Bagging this order is a matter of great pride for us at L&T as it re-affirms the confidence that people have in us to build complex structures," S N Subrahmanyan, member of the board & senior executive vice president (infrastructure & construction).

"Purely in engineering and construction perspective, the 'Statue of Unity' poses some very unique challenges and we possess the requisite credentials to construct. It will indeed be an honour and privilege to use our expertise to create a monument that is sure to evoke nationalistic pride in the heart of every India," he added. 

Shares of the company gained Rs 21.35, or 1.36%, to trade at Rs 1,588.30. The total volume of shares traded was 49,552 at the BSE (10.07 a.m., Tuesday).