IL&FS TN secures road project worth Rs 5.87 bn
Source: IRIS | 13 Jul, 2015, 11.41AM
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IL&FS Transportation Networks, the transportation infrastructure company, said Monday the Government of Jharkhand has issued Letter of Acceptance (LoA) to the company for road project worth Rs 5.87 billion.
This project is for six laning of Ranchi Ring Road Section VII from Kathitanr to Karma comprising of 23.575 Kms.
Jharkhand Infrastructure Implementation Co, a subsidiary of the company, will develop the project on a Built Operate Transfer (BOT) basis.
The project is on annuity basis with a concession period of 17.5 years including construction period of 2.5 years. The company shall receive a semi-annual annuity of Rs 558.2 million.
Shares of the company gained Rs 1.9, or 1.34%, to trade at Rs 144. The total volume of shares traded was 18,440 at the BSE (11.35 a.m., Monday).
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