ITNL Awards Rs. 7900 Million Pune-Sholapur Road Contract to Maytas Infra

~Rejuvenating IL&FS Engineering and Construction Company Limited~

Hyderabad, November 04, 2009: IL&FS Engineering and Construction Company Limited today announced that it has been awarded the Pune-Sholapur road contract worth Rs. 7900 million from IL&FS Transportation Networks Limited (ITNL). ITNL was awarded the work of 4 laning of Pune-Sholapur section of NH-9 from km. 144.40 to km. 249.00 (104.60 kms) in the state of Maharashtra on a DBFOT (Design, Build, Finance, Operate & Transfer) basis by National Highways Authority of India (NHAI). This project is to be completed in a period of 20 month.

IL&FS Engineering and Construction Company Limited (MIL) was one among the leading EPC companies who were invited by ITNL to submit their quotes to construct this project on an Item Rate Basis for given Bill of Quantity (BOQ). Salient features of the project are widening of 2 lane highway to 4 lane of NH-9 for a length of 104.60 Km, realignment of length of 4.750 km (Sholapur bypass), construction of 2 ROBs, 7 major bridges, 21 minor bridges, 1 grade separator, 12 vehicular underpass, 7 pedestrian underpass, 197 culverts, 25.250 km. LHS + 57.800 km. RHS service roads with a period of completion being 24 months.

IL&FS Engineering and Construction Company Limited after a detailed study of the project submitted its competitive offer to ITNL in October 2009 and after negotiations, the prestigious project has been awarded to Maytas Infra for a sum of Rs. 7900 million. This award is a major breakthrough for Maytas Infra as it has not been able to bid for any contract in the last several months after the collateral damage suffered by Maytas Infra due to events related to Satyam. This contract will go a long way in boosting the image of Maytas Infra in the market and restoring the confidence among its stakeholders.

Commenting on the award of the project, Mr. Chander Sheel Bansal, President, IL&FS Engineering and Construction Company Limited said, “We are thankful to ITNL for reposing their faith and trust in Maytas Infra’s Execution Capability and quality, and supporting the Company during this difficult period. Through this project, we envisage assisting our client in building and providing a quality infrastructure link between the two important cities of Maharashtra and contribute to its economic growth. Maytas Infra is committed to maintain the interests of all its stakeholders and award of this project is a testimony to our steadfast commitment. We are confident of consistently catering to the requirements and expectations of our customers now and in the future.”

Besides helping to achieve the economic growth of the region, the project will also help to alleviate the problem of the commercial traffic traveling on the busy NH-9 (linking Pune in the west to Hyderabad in the south). This environment friendly project would create world-class infrastructure facilities and shall help in reduction in the fuel consumption by all users of this road.