IL&FS Transportation Networks bags Rs 651-crore road project
According to Sonal Varma, India Economist at Nomura India, will cut key rates by 0.25 per cent (25 basis points) in April as inflation is likely to come down further.
IL&FS Transportation Networks Ltd today said it has bagged a road project in Rajasthan worth Rs 650.84 crore.
The company was sole bidder for development and operation of Sikar-Bikaner Section of NH-89 for two-laning with paved shoulder and received Letter of Award for the project on Saturday, it said in a filing to the BSE.
It added that the bid was submitted with Public Works Department (PWD) of Rajasthan government, which had called for the bids on behalf of Union Road Transport and Highways Ministry.
"The project is on toll-basis with a concession period of 25 years including construction period of 2 years and an estimated cost of the project is Rs 650.84 crore. The company had quoted a grant of Rs 247.32 crore for the project," IL&FS Transportation Networks said.
Shares of the company closed 1.76 per cent lower at Rs 198.25 apiece on the BSE.