Maharashtra Metro Rail Corp terminates contracts given to IL&FS Engineering

17 Dec 2018

IL&FS Engineering and Construction Company has received a letter from Maharashtra Metro Rail Corporation in forming the Company of the decision of the competent authority to terminate the contract for construction of Seven Elevated Metro Stations, and Three At-Grade Stations (North South Corridor).

The reason for termination is alleged slow progress. All Bank Guarantees provided by the Company around Rs 93 Crore would be enchased by Maharashtra Metro Rail Corporation.

IL&FS Engineering and Construction Company is one of the leading multi-national Infrastructure Development, Construction and Project Management companies with nearly three decades of rich and varied experience in executing landmark projects.

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