MUMBAI: Maharashtra government on Thursday finalised Larson and Turbo (L&T) as the contractor to execute the ambitious Shivaji Memorial project proposed to be built in the Arabian Sea.

The government has been negotiating with L&T, the lowest bidder of the project as it has originally quoted Rs 3826 crore as against Rs 2300 crore the price estimated by the government, however the contract allotted on Thursday is worth Rs 2500 crore plus taxes, still at least Rs 200 crore more than the government's estimates.

The letter of acceptance was allotted to L&T directors by Chief Minister Devendra Fadnavis at Vidhan Bhavan on Thursday. The work on constructing the 210 metre tall memorial with several in-house facilities is likely to begin after monsoon. "L&T will take at least 2 months to finalise the design of the project and then work can start on the ground. Meanwhile, there are some permissions that are still yet to come from the government ," said a senior official associated with the project. Fadnavis said that the project has been in the pipeline for the last 15 years and it was being realised only by his government.

The contract has been allotted a year after the stone laying ceremony for the project was conducted in December 2016 by Prime Minister Narendra Modi .

The cash contract project, will have to be completed within 36 months and L&T will have to maintain it for the next 15 years.

The memorial will be coming up on a 7 hectare rock bed and the site is located 1.5 metres inside the sea. The proposed memorial will cater to 10,000 guests a day and it will bear the architecture of the Maratha empire. It will have an amphitheatre, a temple, a library, a food court, an audio-guided tour, a 3D-4D film and an aquarium, helipads and even an hospital.

A section of the citizens and environmentalists have opposed the project saying that it will lead to environmental impact and could also change the tidal patterns and nature of waves.

