Megha Engineering and Infrastructure Ltd, which bagged the Polavaram project contract works through re-bidding in September, said it commenced concrete laying work on the spillway on Thursday.
Megha was the sole bidder in the re-tender for the Polavaramproject head works (balance) and the 960 MW hydropower project, quoting a price of Rs 4,359 crore as against the estimated commercial value of Rs 4,987 crore.
The Andhra Pradesh government claimed it thus saved a sum of Rs 780 crore on these works.
The company said in a release here that the spillway works would be completed by June 2020 as scheduled.
Also, 1.50 crore cubic metres of work would be completed at the Rock-fill Dam site by June 2021.
"If the works go as per schedule, water could be stored in the Polavaram project by end of 2020.
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MEIL is racing against time to ensure that the works go as per plan," the release added.
The release said the project area still remained flooded after the recent heavy rains and the excess water would be pumped out soon to enable the construction works.
"The spill channel of the project is filled with water. There is still 5.3 lakh cubic meters of works to be done in the spill channel and it will be undertaken only after the water recedes," it said.
In the spillway, three lakh cubic meters of work remained to be completed and a daily target of 2,000 cubic meters has been set.