Infrastructure firm IL&FS Transportation on May 9 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 company said that the concession agreement for six-laning of Barwa-Adda-Panagarh section of NH 2 was signed between NHAI and Barwa-Adda Expressway, a subsidiary of the company incluidng Panagarh bypass.
The road 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.
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