IL&FS Transportation ties-up Rs. 3000 crore loans for road projects

November 8, 2013

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Press Trust of India |

New Delhi: IL&FS Transportation Networks Ltd today said it has tied up loans worth over Rs. 3,029 crore for financing road projects in Jharkhand, West Bengal and Maharashtra.The loan agreements have been signed with IndusInd Bank, IL&FS Financial Services and Yes Bank, it said.

“The company was issued a Letter of Award by the National Highways Authority of India (NHAI) for development and operation of six laning of Barwa Adda Panagarh Section of NH-2…in the states of Jharkhand and West Bengal,” the company said in a filing to BSE.

“The financial tie-up of loans aggregating to Rs. 1,704.40 crore has been achieved and the loan agreements have been executed with IndusInd Bank and IL&FS Financial Services Ltd,” the company said.

The project, estimated at Rs. 2,434.86 crore, is on toll basis with a concession period of 20 years, including construction period of 910 days, the company added.

In another filing, the company said it has been awarded project by NHAI “for four laning of Khed-Sinnar Section on NH-50…in the state of Maharashtra under NHDP Phase IV on design, build, finance and operate and transfer basis.”

“The financial tie-up of loans aggregating to Rs. 1,325 crore has been achieved and loan agreements have been executed with Yes Bank Ltd,” it said.

This project, with an estimated cost of Rs. 2015.29 crore, is also on toll basis with a concession period of 20 years, it added.

Source-http://profit.ndtv.com