Adani Enterprises emerges L1, contract still pending

Bengaluru: Adani Group has submitted the lowest bid for the tunnel road planned from Hebbal to Silk Board through Bengaluru’s most congested stretch and has been declared L1. The contract itself remains unawarded as of yet. Gautam Adani has also met Chief Minister D K Shivakumar in Bengaluru.

Reports confirm that Adani Enterprises emerged as the lowest bidder for the 16.75 km north-south tunnel road project designed to ease traffic congestion between Hebbal and Silk Board. Bengaluru Smart Infrastructure Limited (B-SMILE) and the state government had estimated the project cost at Rs. 17,698 crore. Adani Group’s bid stands at Rs. 22,267 crore, roughly Rs. 4,569 crore or 24 to 28 percent higher than the official estimate.

The project is structured on the Build-Operate-Transfer model, with the government providing 40 percent as Viability Gap Funding and the private partner meeting the remaining 60 percent. Only Adani Group and Hyderabad-based Viswa Samudra Engineering Limited cleared the technical evaluation stage. Adani Enterprises ultimately emerged as L1.

Because the quoted amount substantially exceeds the government’s estimate, the state Cabinet must still decide whether to accept the bid, negotiate a reduction, or invite fresh tenders.

Gautam Adani, chairman of Adani Enterprises, met Chief Minister D K Shivakumar on Sunday. After visiting Sri Ravishankar Guruji’s ashram in Kanakapura, he proceeded to the Chief Minister’s residence on the return journey. The content of their discussion remains unknown, and neither side has issued an official statement.

Even before final contract approval, reports claim that Adani Enterprises has commenced geotechnical investigation, soil testing and preliminary survey works along the entire route in accordance with the prescribed rules. The group already manages several airports and seaports across the country, including Mangaluru Airport.