IL&FS Transportation wins Rs 25.19 bn order from NHAI

April 2, 2010

IL&FS Transportation Networks today announced that it has bagged Rs 25.19 billion order from National Highways Authority of India (NHAI).

The bids were opened today by the NHAI and the company has emerged as the lowest bidder for the aforesaid project.

The project work includes Four Laning of Chennai to Nashri Section of NH-1A from Km 89 to 130 (new alignment) of NH-1A including 9 Km long tunnel (2 lane) with parallel escape tunnel in the State of Jammu & Kashmir (Package No. NHDP-PhaseII/BOT/V/J&K).

The project is on annuity basis with concession period of 20 years including a construction period of 1825 day. The Company has quoted a semi-annual annuity of Rs 3.18 billion for the project.

Shares of the company declined Rs 0.35, or 0.13%, to settle at Rs 278.10. The total volume of shares traded was 823,676 at the BSE (Thursday).

Source: myiris.com