On September 28th, the Haryana Urban Development Authority had awarded the Rapid MetroRail Gurgaon South Extension to a consortium of IL&FS Transportation Networks Ltd and its subsidiary IL&FS Rail Limited for developing the 6.5 km rail Metro Link Extention from Sikanderpur Station to Sector 56, Gurgaon on a DBFOT (Design, Build, Finance, Operate and Transfer) basis.

On March 28th, IL&FS Transportation Networks informed that, the financial tie-up of loans aggregating to Rs. 1,500 Crores  (US$279.6 million) had been achieved and loan agreements had been executed with a consortium of banks on March 26, 2013.

The consortium is already executing a 5-km Metro rail system connecting Sikanderpur Metro station of Delhi Metro to Cyber city and NH-8 in Gurgaon. The project will be an extension of the Rapid Metro Rail Gurgaon System and will run from Sikanderpur station at Bristol Chowk to sector-56 in Gurgaon with 6 stations expected to be covered in 18 minutes.

The total investment for the project is Rs 2,100-crore project (US$391 million).The project is expected to be completed in 2015.

The concession period is of 98 years, which is one of the longest concession periods seen in private investment in infrastructure in India and in the world.

Source: IL&FS Transportation