New Delhi: The Indian Parliament is going to get a brand new structure and the Tata Projects Ltd has won a contract worth Rs 861.90 crore for the construction of the new Parliament building, government officials said on Wednesday. The Tata’s beat Larsen and Toubro Ltd who had submitted a bid of Rs 865 crore. Also Read - Parliament Adjourns Sine Die, Monsoon Session Cut Short by Eight Days Over Coronavirus Concerns

“The Tata Projects Limited has won the contract to build a new Parliament building,” an official said. Also Read - Monsoon Session Updates: Congress Leader Ghulam Nabi Azad Meets President Kovind to Discuss Farm Bills

Notably, the new Parliament building is a part of Prime Minister Narendra Modi’s plan to rebuild the central Vista in New Delhi. The project that will kick off after the Monsoon Session is expected to be completed within a year. Also Read - Amid Oppostion Protest, Rajya Sabha Passes 7 Key Bills in Three And Half Hours

The mega project aims to redevelop the national capital’s Central Vista area that houses iconic buildings including the Parliament, Rashtrapati Bhavan, the Prime Minister’s official residence, and the India Gate. The project has recently been criticised in the Parliament as an unnecessary move amid COVID-19 pandemic.

The Central Public Works Department, that opened the financial bids this morning, said that the new building will come up at plot number 118 of the Parliament House Estate.

The civic body also noted that the building will be designed as ground plus two-storey triangular structure at an estimated cost of Rs 940 crore. According to reports, the national emblem of India is likely to sit atop on the roof of the new building.

Last month, the government had shortlisted three Mumbai-based construction companies – Larsen & Toubro, Tata Projects and Shapoorji Pallonji & Company – for submissions on the financial bid.

Earlier this year, the Centre had justified the new construction saying that the current Parliament building had begun “showing signs of distress and over-use”. Notably, the existing structure was built during the British era.