IL&FS venture wins Ethiopian road contract

Infrastructure company IL&FS Transportation Networks today said its joint venture firm has bagged Rs. 1,525 crore road contract in Ethiopia.

“The company in joint venture with Elsamex SA, a wholly-owned subsidiary of the company in Spain had submitted the bid to the Ethiopian Roads Authority, Federal Republic of Ethiopia for design, improvement works and management and maintenance services of (i) Nekempte — Anger Gutin—Andhode road section (86.10 km) and (ii) Agamsa—Bure road section (84.56 km) on an output and performance based road contract (OPRC),” IL&FS Transportation Networks said in a BSE filing.

It further said: “The Director General, Ethiopian Roads Authority has awarded the aforesaid projects for development by the Joint Venture for a period of 8 years. The project is funded by the World Bank and the estimated total contract value is USD 223.0 million (approx Rs. 1,524.76 crore).”

Shares of IL&FS Transportation Networks were trading 5.48 per cent up, at Rs. 68.30 on BSE.

(This article was published on March 1, 2016)

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