IL&FS Transportation Networks Ltd. said it had obtained a Letter of Award from the National Highways Authority of India or NHAI for four laning of Kiratpur to Ner-Chowk Section of NH-21 in the State of Himachal Pradesh to be executed as BOT on DBFOT pattern under NHDP Phase-III.
The project is on toll basis with a concession period of 28 years, including construction period of 3 years and the estimated cost of the project is Rs.1,818.47 crore. The company had quoted a grant of Rs.134.57 crore for the project.
The company further stated that the Concession Agreement for the captioned project was signed between NHAI and Kiratpur Ner Chowk Expressway Ltd., the Special Purpose Vehicle incorporated by the company for undertaking the project.
AT the BSE, IL&FS Transportation Networks shares are currently trading at Rs.193.75, up 1.12 percent from the previous close.
by RTT Staff Writer
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