IL&FS Transportation bags contract of over Rs 1,700 cr

IL&FS Transportation Networks Ltd has emerged as the lowest bidder for six-laning a section of the national highway 2. The estimated cost of the project is Rs 1,665 crore.

The contract is for six-laning Barwa-Adda-Panagarh sector of the national highway 2 from 398.24 km to 521.12 km. The project is on a ‘toll basis’ with a concession period of 20 years including the construction period of 910 days. “The company had quoted a premium of Rs 42 crore,” it said in a statement.