IL&FS Transportation Networks Ltd said its joint venture has emerged as the lowest bidder for the Andhra Pradesh Road Development Corp’s (APRDC) Narketpally-Addanki-Medarametla road (SH-2) project. The estimated cost of the project is Rs1,196.84 crore.
Mumbai-based IL&FS Transportation in a 50:50 joint venture with Hyderabad-based Ramky Infrastructure Ltd will construct the four laning of Narketpally-Addanki-Medarametla road in Andhra Pradesh under public-private partnership (PPP) on build, operate, and transfer (BOT) basis. The project is on toll basis with a concession period is 24 years including construction period of 910 days. The company shall receive a viability gap grant of Rs467.02 crore for the project by APRDC. The company has also received a letter of award from APRDC for the project.
IL&FS Transportation Networks shares ended Tuesday 3.44% up at Rs269.30 on the Bombay Stock Exchange, while the benchmark Sensex closed 2.71% down at 16,022.48 points.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
