IL&FS Engineering and Construction Company today said it has won a Rs 394.3 crore contract from real estate developer DLF for construction of a road in Haryana.
"The company has been awarded a turn-key EPC (engineering, procurement and construction) contract by DLF Ltd for a value of Rs 394.3 crore for construction of high speed Haryana Urban Development Authority (HUDA) sector road," it said in a filing to the BSE.
The stretch starting from NH-8 to sector 55/56 at Gurgaon is scheduled to be completed in 18 months from the date of commencement of work.
The maintenance period for the project is of five years.
"This road will be ‘signal-free’, providing free movement for commuters on either side and will feature six underpasses that will reduce noise pollution," the statement said.
In addition to a service road, the road will have a dedicated corridor for Sector 25 to Sector 55 that will mitigate heavy traffic and thereby enable smooth flow of main traffic.
"The road will be completely integrated with the soon to be launched Rapid Metro system, and will to cater to the future Rapid Metro line from Sikanderpur to end of Sector Road," it added.
The 8.3 km road that will reduce the travel time from 30 minutes at present to seven minutes will facilitate a smooth travel from the Delhi-Gurgaon toll plaza to Golf Course Road, the company said.