Mumbai-based Larsen & Toubro emerged as lowest bidder for a 508-km, $3.3-billion bullet train project, a signal that India will build its first high-speed rail project using local capability, and was awarded a 237-km sector.

The Mumbai-to--Ahmedabad project attracted four bidders, all Indian companies. Others were Afcons Infrastructure, IRCON International, and the NCC-Tata Project-J Kumar Infra Projects-HSR consortium.