IL&FS Engineering and Construction Company has received a letter from Rail Vikas Nigam informing the Company of the decision of the competent authority to terminate the contract for construction of seven stations including related works from Sub - CBD-1 to Titumir in New Garia- Airport Metro Corridor of Kolkata Metro Railway.
The reason for termination of the contract is slow progress. Rail Vikas Nigam will encash all BGs provided by the company amounting to approximately Rs 43 crore.
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.
