IL&FS Transportation Networks Ltd. said it had signed a Concession Agreement with National Highways Authority of India Ltd., or NHAI for construction of new bridges/structures, repair of existing four lane highway from Kharagpur to Baleshwar section of NH-60 from Kin 0.000 to Km 119.300 in the State of Odisha and West Bengal and its operation and maintenance under NHDP Phase I to be executed as BOT (Toll) on DBFOT pattern.
The project is on toll basis with a concession period of 24 years including construction period of 2.5 years and the estimated cost of the project is Rs.471.05 crore.
The Concession Agreement was signed between NHAI and Baleshwar Kharagpur Expressway Ltd., the Special Purpose Vehicle for undertaking the project.
At the BSE, IL&FS Transportation Networks shares are currently trading at Rs.190.80, up 0.16 percent from the previous close.
by RTT Staff Writer
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