IL&FS Transportation Networks Ltd announced on Monday that it had completed its Pune-Solapur Road Project over four months ahead of schedule. “…the Provisional Completion Certificate was issued by National Highways Authority of India on August 23, 2013 for the Pune-Solapur Road Project which was awarded to the Company. The Company has commissioned the Project 145 days ahead of Scheduled Project Completion Date,” said the exchange announcement.
Come July 1, 70 per cent of the rubbish generated in the city would be converted into manure, the sale of which would also fetch some extra revenue for the civic body. This is consequent to the decision of the Mangalore City Corporation to award a private company the contract of operating and maintaining the compost plant and sanitary landfill site at Pachchanady from next month. The company is expected to install two more machines – one of them by July end – for precomposting segregation in addition to the existing 120 tonne capacity a day processing machine already in use. According to an agreement signed with the company on May 29 not more than 30 per cent of the waste generated a day should be dumped in the landfill site. The source said that the company had its own arrangements for marketing compost.
IL&FS Transportation Networks has signed the Concession Agreements with the concerned Authorities for the projects, (i) Kiratpur Ner Chowk section of NH 21 of 90.175 kms in the States of Punjab and Himachal Pradesh, (ii) Beawar Gomti section of NH 8 of 88 kms of the total 116 kms (Capacity augmentation) in the State of Rajasthan and (iii) Sikar Bikaner section of NH 11 of 237.57 kms in the State of Rajasthan. The commencement of work of the aforesaid projects was pending receipt of clearance from the Forest Department. The Forest Advisory Committee of the Ministry of Environment & Forest, Government of India at their meeting held on June 10, 2013 have provided clearance for commencement of work for all the aforesaid Projects. Shares of IL&FS Transportation Networks Ltd was last trading in BSE at Rs.175.40, up by Rs.5.85 or 3.45%. The stock hit an intraday high of Rs.177 and low of Rs.166.20. The total traded quantity was 13973 compared to 2 week average of 7152.
IL&FS Transportation Networks Ltd has informed BSE that, MP Border Checkpost Development Company Ltd, a subsidiary of the Company, which had been mandated the development of 24 Border Check Posts by the M. P. Road Development Corporation Ltd. has been issued a Provisional Completion Certificate to commercially operate 2 Border Check Posts, namely, at (i) Agra - Mumbai and (ii) Indore - Ahmedabad effective April 26, 2013. The Project is fee based with a Concession period of 12 1/2 years.
ITNL Offshore Pte Ltd, a wholly-owned subsidiary of IL&FS Transportation Networks Limited (ITNL), successfully completed a foreign currency bond offering of 5.75% RMB 630 million (about Rs.525 crore and equivalent to US$ 100 million) due 2015. These bonds have been placed as part of a public offering marketed in the Hong Kong and Singapore markets This would also be the first Indian listing on the Hong Kong Stock Exchange
IL&FS Transportation Networks Ltd has informed BSE that the Hazaribagh - Ranchi section of NH-33 from km 40.500 to 114.00 in the State of Jharkhand (“the Project”) being implemented by the subsidiary of the Company has been issued a Provisional Completion Certificate by the Competent Authority effective September 15, 2012.The Project has been commissioned 134 days ahead of Scheduled Project Completion Date i.e. January 27, 2013. The Company shall receive from NIIAI, a semi-annual annuity of Rs. 64.08 Crores for a period of 15.5 years effective September 15, 2012.In addition, the Company shall also receive a one-time Bonus Annuity of Rs. 47.70 Crores for early completion of the Project.