IL&FS Transport lowest bidder for Rs 315 crore road projects in Madhya Pradesh

NEW DELHI: IL&FS Transportation Networks today said that it has emerged as the lowest bidder for two road projects worth Rs 315 crore offered by the Madhya Pradesh government.

"The company along with its wholly owned subsidiary, Elsamex SA was declared as the lowest bidder in the bids submitted to Madhya Pradesh Road Development Corporation Ltd for upgradation of two road projects," it said in a filing to the BSE.

"The upgradation cost of the projects is Rs 315 crore," ILFS Transportation said.

The Authority will additionally pay a sum of Rs 13.06 crore towards maintenance of the projects over a period of 5 years, it added.

The projects have been undertaken by the Madhya Pradesh government under the loan secured from the Asian Development Bank.

Shares of IL&FS Transportation Network were trading at Rs 160.40 at 1350 hrs, up 1.42 per cent from previous close on BSE.