"The concession agreement for development of six-laning of Ranchi Ring Road, section VII from Kathitanr to Karma comprising 23.575 kms, has been signed by Jharkhand Infrastructure Implementation Co, a subsidiary of the company, with the Jharkhand government on a build-operate-transfer (BOT) basis on August 7, 2015," the company said in a BSE filing.
It further said: "The estimated cost of the project is Rs 587.60 crore. The company shall receive annuity of Rs 111.64 crore per annum upon completion of the project."
The stock of IL&FS Transportation Networks was trading at Rs 130.75, down 7.47 per cent, on BSE.
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