Engineering firm Larsen & Toubro (L&T) will build a six lane 43.40 km long

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Chennai-Tada section of national highway number 5 in Tamil Nadu. It has bagged a Rs 418.75-crore project from National Highways Authority of India for widening of the section.

The agreement has been signed under the fifth phase of National Highways Development Programme, NHAI said in a statement.

L&T will operate the section for 15 years which includes a construction period of two and half years. The project has been awarded on build-operate-transfer basis on design, build, finance and operate pattern. The section will tolled and the reveneue from it will accrue to L&T. The project has provisions of bridges, fly-overs, vehicular under passes, pedestrians under passes, and automatic traffic counter, variable message signs and closed circuit telephone cameras. There will be a 152.5 km long service road on both sides throughout the project.

Shares of L&T closed at Rs 2,765.50, down 2.93 per cent on the Bombay Stock Exchange on Wedenesday.

L&T/BSE Rs 2765.50 v