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IL&FS Engineering gets nod to restart road projects in Assam

Cash-strapped firm has also reached an arbitration for two other projects

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IL&FS Engineering and Construction Company Ltd has received the government's nod to restart work on one of its road projects, which was earlier up for foreclosure. Secondly, the company has reached an arbitration agreement for two other projects.

A week ago, the Ministry of Road Transport & Highways (MoRTH) received an approval to revive the work on 106 km long Birpur-Bihpur section of National Highway 106. Like other road projects, this project too was up for foreclosure as the company is currently undergoing a financial crisis.

Instead of foreclosing, the company had sought permission for executing the project, the company said in a regulatory filing.

  • Rs 191 cr – Settlement agreement entered by co with NHAI for two road projects

The project pertains to rehabilitation and upgradation of the road. "The work on the project shall commence within 15 days," said a company official.

On the other hand, IL&FS Engineering and Construction Company Ltd also recently entered into a settlement agreement with the National Highways Authority of India (NHAI) for two of its road projects for a cumulative amount of Rs 150.15 crore.

The company said it has received Rs 41.82 crore as claim amount for its Daboka to Nagaon section of National Highway 36 in Assam.

In addition, IL&FS Engineering and Construction Company Ltd has also received Rs 108.33 crore as claim amount for Dharamtul to Sonapur Section of National Highway 37 in Assam.

On April 28, DNA Money had reported about NHAI taking back incomplete road projects from the crisis-laden group. Already, Zojila Tunnel construction contract was terminated and put out for a rebid by the National Highways & Infrastructure Development Corporation Ltd (NHIDCL). Even the 6.5 km long half done Z Morh Tunnel project in Jammu & Kashmir has also been taken back by NHIDCL.

Similar to Zojila Tunnel project, this tunnel project in Jammu & Kashmir too would eventually go for rebid to complete pending works.

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