IL&FS Transportation to collect full toll on Pune-Solapur NH

The Project was issued provisional completion certificate on August 23, 2013, and was entitled to collect only 80% of the toll

IL&FS Transportation Networks Ltd today said it has completed the widening of Pune-Solapur section of NH in Maharashtra and is entitled to collect toll at the full rate.

"Independent Engineer appointed by National Highways Authority of India has certified February 3, 2016 as the commercial operation date for the 4 laning of Pune-Solapur section of NH-9...Developed by the company's subsidiary," IL&FS Transportation Networks Ltd said in BSE filing.

The 105 km stretch in Maharashtra has been developed on the design, build, finance, operate and transfer basis, it said.

The Project is on toll basis with a concession period of 19 years and 295 days comprising of tolling, operations and management period of 18 years.

The Project was issued provisional completion certificate on August 23, 2013, and was entitled to collect only 80 per cent of the toll, it said.

"Since the Company has now completed the development of the entire stretch of the Project, it will be entitled to collect toll at the full rate," it added.

The company stock was trading at Rs 76.70, down 2.36 per cent, on BSE.