IL&FS closes financing for two road PPP projects

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
IL&FS closes financing for two road PPP projects

IL&FS Transportation Networks Ltd has informed Bombay stock Exchange (BSE) that the company has closed financing for two road infrastructure projects.

Six Laning of Barwa Adda Panagarh Section of NH-2

IL&FS Transportation Networks has informed that it has tied up loans aggregating to Rs. 17,044 million (US$274 million) with Induslnd Bank and IL&FS Financial Services Ltd to finance the development and operation of Six Laning of Barwa Adda Panagarh Section of NH-2.

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 from Km 398.240 to Km 521.12 including Panagarh Bypass in the States of Jharkhand and West Bengal under NHDP Phase Y on DBFOT pattern for which the Concession Agreement was also signed with NHAI on May 08, 2013.

The project is on Toll basis with a concession period of 20 years including construction period of 910 days and the estimated cost of the project is Rs. 24,348.6 million (US$391 million).

Four laning of Khed-Sinnar section of NH-50

IL&FS Transportation Networks Ltd has also informed that the company has closed financing for this project. The company has got a Rs. 13,250 million (US$213 million) loan from Yes Bank Ltd.

IL&FS was issued a Letter of Award by the National Highways Authority of India (NHAI) for four laning of Khed-Sinnar section of NH-50 from Km 42.000 to Km 177.000 (design length - 137.946 km) in the state of Maharashtra under NHDP Phase IV on Design, Build, Finance, Operate and Transfer (DBFOT) basis for which the Concession Agreement was also signed with NHAI on May 09, 2013.

The project is on Toll basis with a concession period of 20 years including construction period of 910 days and the estimated cost of the project is Rs. 20,152.9 million (US$324 million).

List of country news

Country news

  • November 11, 2013

    India seeks port transaction advisor

    The Ministry of Shipping, Government of India is proposing to develop a greenfield major port at Dugarajapatnam in Andhra Pradesh at a distance of about 90 km north of Ennore Port and 700 km south of Visakhapatnam Port to meet the ever increasing cargo demand in the country. Read more
  • November 11, 2013

    Indian port seeks legal and financial advisors for PPP project

    The proposed Vizhinjam International Deepwater Multipurpose Seaport is an ambitious project taken up by Government of Kerala. The project is proposed to follow Landlord Port Model, where dredging, reclamation and basic infrastructure like construction of break-water and quay will be done by Vizhinjam International Seaport Ltd (fully owned by Government of Kerala). Read more
  • November 12, 2013

    SBI Macquarie infra fund acquires road project in India

    SBI Macquarie Infrastructure Trust and Macquarie SBI Infrastructure Fund have acquired 74% stake in a Trichy road project developed by IJM Corporation of Malaysia and Shapoorji Pallonji for Rs 2,750 million (US$44.2 million). This is SBI Macquarie's third buy in the road space in the last one year. Read more
  • November 13, 2013

    L&T signs $280m road concession in Odisha

    L&T announced yesterday that a subsidiary of Larsen & Toubro Infrastructure Development Projects (L&T IDPL) has signed the concession agreement with Odisha Government for the Rs 12,925.6 million (US$280 million) State Highway No.10 (Sambalpur - Rourkela) project. Read more
  • November 14, 2013

    IIFCL in talks to raise US$750m for India infrastructure finance

    India Infrastructure Finance Company Ltd (IIFCL), a wholly-owned Government of India company provides long term finance to viable infrastructure projects, is planning to raise US$750 million and is in talks with three overseas institutions - Japan International Cooperation Agency (JICA), European Investment Bank (EIB) and French Development Agency (ADF). Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.