IL&FS Transportation Networks Ltd has informed the Bombay Stock Exchange (BSE) that on August 23, 2013 the National Highways Authority of India issued the Provisional Completion Certificate for the Pune-Solapur Road Project which was awarded to the Company on DBFOT (Toll) basis under NHDP phase III.

IL&FS has commissioned the Project 145 days ahead of Scheduled Project Completion Date.

This project includes the development of four lanes with an aggregate length of approximately 571 Lane km (4 Laning from Km 144.400 to km 249.000) on Pune - Sholapur stretch of National Highway-9 in the State of Maharashtra. The concession for this project has been awarded to IL&FS by NHAI on a DBFOT (Toll) basis for a period of 20 years, including an initial construction period of two and a half years.

The road investment has been Rs.835 crores (US$131 million).

IL&FS signed the concession agreement for the project on 30 September 2009. The financing arrangement for financial closure was executed on January 25, 2010.

Source: IL&FS