L&T arm bags Rs 2,600-cr pact to build highway

Construction and engineering major Larsen and Toubro (L&T) said on Wednesday that its subsidiary, Larsen and Toubro Infrastructure Development Projects Ltd (L&TIDPL), has signed a Rs 2,600 crore concession agreement with the National Highways Authority of India (NHAI) for a highway project in Rajasthan.

Updated on: Jun 22, 2011, 22:15:48 IST

IANS | By Anonymous, Mumbai

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Construction and engineering major Larsen and Toubro (L&T) said on Wednesday that its subsidiary, Larsen and Toubro Infrastructure Development Projects Ltd (L&TIDPL), has signed a Rs 2,600 crore concession agreement with the National Highways Authority of India (NHAI) for a highway project in Rajasthan.

The agreement is for the four-laning of the 244 km of NH14 between Beawar and Pindwara in Rajasthan.

"The estimated project cost is about Rs 2,600 crore and the project is scheduled to be completed in 30 months. It will be executed on BOT (build operate transfer) DBFO (design, build, finance and operate) basis, with a concession period of 23 years," the company said in a regulatory filing.

At the Bombay Stock Exchange, the shares of Larsen and Toubro ended up by 0.4% at Rs 1,653 on Wednesday.

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