IL&FS Transportation Networks, the transportation infrastructure company, announced that the provisional completion certificate has been issued by the national highways authority of India on today for commencement of operations for the Moradabad Bareilly Road Project awarded to the company on design, build, finance, operate and transfer basis.

The project is on toll basis with a concession period of 25 years including construction period of 2 1/2 years.

Shares of the company declined Rs 3.5, or 1.85%, to trade at Rs 185.50. The total volume of shares traded was 22,605 at the BSE (3.44 p.m., Tuesday).