IL&FS signs pact with NHAI for Rs 1,665 crore-project in Jharkhand, West Bengal

NEW DELHI: Infrastructure firm IL&FS Transportation today said it has signed a pact with National Highways Authority of India (NHAI) for Rs 1,665 crore road project in Jharkhand and West Bengal.

"The concession agreement for six-laning of Barwa-Adda-Panagarh section of NH 2 was signed between NHAI and Barwa-Adda Expressway Ltd, a subsidiary of the company incluidng Panagarh bypass," the company said in a statement.

The project will be executed under National Highways Development Project (NHDP) phase V under design, build, finance, operate and transfer (DBOFT) basis.

"The estimated cost of the project is Rs 1,665 crore. The company had quoted a premium of Rs 42 crore," it added.

The project is on toll basis with a concession period of 20 years including construction period of 910 days.

The shares of the company closed at Rs 176 a scrip, up 0.23 per cent on the BSE.