IL&FS Transportation awarded Rs 471 cr road project

Moneycontrol Bureau

IL&FS Transportation Networks has been declared preferred bidder by National Highways Authority of India for 119 km road project spread across Orissa and West Bengal states. Estimated cost of the project is Rs 471.05 crore and includes construction of new bridges/structures and repair of existing four lane highway from Kharagpur to Baleshwar stretch of National Highway 60, the company said on Wednesday. IL&FS Transportation will also be responsible for its operation and maintenance. The project is on a toll basis with concession period of 24 years, including construction period of 2.5 years, it said. IL&FS Transportation shares were up 1% at Rs 194 on NSE in morning trade.