New Delhi, Jun 8 (PTI) Infrastructure firm IL&FS Transportation Network on Wednesday said its subsidiary KSEL has entered into a settlement agreement with NHAI for terminating the Khed-Sinnar Expressway project -- part of the Delhi-Mumbai industrial corridor-- at a compensation of Rs 891.59 crore.

IL&FS Transportation Network in a BSE filing said that NHAI has paid a sum of Rs 736.07 crore in the escrow account of KSEL upon making necessary deductions.

Also Read | Google Launches New Features for Meet, Chromebooks.

The project will be handed over to NHAI in due course, it added.

"Khed Sinnar Expressway Limited (KSEL), a subsidiary of the company had developed the Khed-Sinnar section of the road in Maharashtra.

Also Read | Nothing Phone (1) Launch Set for July 12, 2022; Flipkart Availability Confirmed.

"KSEL had entered into a settlement agreement with National Highways Authority of India (NHAI) on April 6, 2022 for foreclosure of the concession agreement at a compensation of Rs 891.59 crores," the company said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)