IL&FS Transportation Networks, the transportation infrastructure company, said Wednesday the company has awarded the road project worth Rs 18.85 billion through issuance of a letter of award from National Highways Authority of India (NHAI).

The company had submitted a bid with the NHAI for 4-Ianing of Fagne-Gujarat/Maharashtra Border (Package-Ill) section of NH-6 in the State of Maharashtra from km. 510.000 to km. 650.794 on BOT (TOLL) basis on DBFOT pattern under NHDP Phase-IV.

The company had quoted a grant off Rs 2.45 billion for the project. The concession period for the project will be 19 years including construction period of 910 days.

Shares of the company declined Rs 0.85, or 0.58%, to trade at Rs 146.00. The total volume of shares traded was 108,579 at the BSE (3.49 p.m., Wednesday).