ILFS Transport lowest bidder for Rs 4.1K-cr projs in M'rashtra

IL&FS Transportation Networks today said it has emerged as the lowest bidder for two highways projects worth Rs 4,174 crore in Maharashtra, bids for which were invited by the National Highways Authority of India (NHAI).
The Cabinet Committee on Economic Affairs had approved both the projects in its meeting, chaired by Prime Minister Narendra Modi, on June 17.
"IL&FS Transportation Networks Ltd has... Submitted a bid with the NHAI for 4-laning of Amravati-Chikhli section of NH-6 in the state of Maharashtra... On BOT (TOLL) basis on DBFOT pattern under NHDP Phase-IV...The company has emerged as the lowest bidder for the aforesaid project," the company said in a filing to BSE.

The company said the concession for the project will be 19 years, including construction period of 910 days and the estimated cost of the project is Rs 2,288.18 crore.
"The company had quoted a grant of Rs 183.05 crore for the project," it added.
ILFS Transportation Networks further said it has also emerged as the lowest bidder for "4-laning of Fagne - Gujarat/ Maharashtra Border section of NH-6 in Maharashtra on BOT (TOLL) basis on design, build, finance, operate and transfer (DBFOT) pattern under NHDP Phase-IV."

The concession period for the project will be 19 years, including construction period of 910 days, and the estimated cost of the project is Rs 1,885.74 crore, it said.

"The company had quoted a grant of Rs 245.14 crore for the project," it added.
Both the projects will be built under the government's flagship programme National Highways Development Project (NHDP).
The main object of the project is to expedite improvement of infrastructure in Maharashtra and also reduce the time and cost of travel for traffic, particularly heavy traffic.
The shares of the company today closed 0.48 per cent up at Rs 146.70 apiece on BSE.