IL&FS Transportation Networks, the transportation infrastructure company,  (70:30) Joint Venture (JV) with PJSC Kyivmetrobud has emerged as the Lowest Bidder for the development of CMRL Project.

The Joint Venture had quoted an amount of Rs 3.71 billion for the project to be completed in a period of 20 months.

Earlier, the JV had submitted bids with the Chennai Metro Rail (CMRL) on Item Rate basis for design validation and construction of works of underground station (Excluding Station Diaphragm Walls) Associated Structures at Concourse, Platform Level, Entry/Exit, Ancillary Building, Pumphouse, Water Tanks, Ventilation Shafts, Plumbing and Earthmat etc., and Architectural Finishes, Signage's etc.

Shares of the company gained Rs 2.50, or 2.51%, to trade at Rs 102.30 at the BSE (Wednesday).