ITNL will commission six highways next fiscal despite delays
February 16, 2011
IL&FS Transportation Networks (ITNL) will commission six of its highway projects on scheduled in 2011-12 despite the procedural delays. According to executive director, Mukund Sapre some projects were witnessing longer than expected delays in the National Highways Authority of India (NHAI) approving the appointed date after the company submitted the financial closure documents. Normally NHAI does not take more than a month to set the appointed date but in these projects it took more than six months. But ITNL began work once it achieved closure so by the time the date was set it had already mobilised all equipments and started construction. So there should be no time overruns.
Among the projects ITNL plans to bring on-stream next fiscal are national highway stretches in Ranchi-Hazaribagh, Pune-Sholapur and Moradabad-Bareilly, totalling Rs 4,255 crore and 1,412 lane kms. The other three projects are Phase-II of its Thiruvananthapuram city roads project, Phase-I of Jharkhand Road Development and one in Spain.
ITNL is India's biggest highway developer with a portfolio of 22 projects with a total length of over 12,000 kms. ITNL has 10 operational roads.
ITNL has bids worth Rs 56,904 crore at the request for qualification (RFQ) stage and Rs 7,570 crore at the request for proposal (RFP) stage.
