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IL&FS receives Rs 693 cr for two road projects

Monday, 05 Apr 2021
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IL&FS Transportation Network (ITNL), a subsidiary of IL&FS, on 31 March 2021 duly received settlement amount of Rs 673 crore for Kiratpur Ner Chowk Expressway (KNCEL) and Rs 20 crore towards claims for Chenani Nashri Tunnelway (CNTL) from the National Highways Authority of India (NHAI).

With these two projects, NHAI and the Ministry of Road, Transport and Highways (MoRTH) have settled aggregate IL&FS claims of over Rs 1,804 crore across six road projects.

KNCEL project was foreclosed under the MoRTH guidelines of March 2019 for stalled and incomplete projects. CNTL is a completed project, earning annuities, and the Rs 19.6 crore is the claim amount towards change of scope.

Other IL&FS projects settled under claims and compensation by NHAI with the New Board till date include: Jorabat Shillong Expressway (JSEL) Rs 252 crore; Baleshwar-Kharagpur Expressway (BKEL) Rs eight crore; and ITNL Road Infrastructure Development Company (IRIDCL) Rs 144 crore that was settled by MoRTH.

There is a pending settlement of Rs 902 crore for Khed Sinnar Expressway project and Rs 171 crore for Amravati Chikli Expressway from NHAI.

FSEL, KNCEL and IRIDCL have been handed over to the authorities post-settlement of claims. BKEL will form part of the InVIT that will include 11 road projects in two phases.

 
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