IL&FS Transportation wins $251 million Indian road PPP contract
IL&FS Transportation Networks Ltd has informed the Bombay Stock Exchange (BSE) that the Company had emerged as the Lowest Bidder for the Four Laning of Khed-Sinnar Section of NH-50 From Km 42.000 to Km 177.000 (Design Length - 137.946 Km) Under Phase IV B in the State of Maharashtra on DBFOT Basis issued by National Highways Authority of India (NHAI).
The Project is on Toll basis with a concession period of 20 years including construction period of 910 days. The estimated cost of the Project is Rs. 1348.20 Crores (US$251 million) and the Company has quoted a grant of Rs. 296.60 Crores (US$55.2 million) for the Project.
Further the Company has informed that, the Company has received a Letter of Award dated March 28, 2013, from the NHAI for the aforesaid Project.
The Government had approved the investment proposal for the project several days ago.
