IL&FS unit to sell 49% stake in Chongqing Yuhe expressway
India-based ITNL International, a wholly-owned unit of IL&FS Transportation Networks of IL&FS Group is looking to sell 49 percent of the equity stake in Chongqing Yuhe Expressway Company Limited. The project is located in China. The remaining 51% stake is owned by a local Chinese company Chongqing Expressway Group.
Chongqing Yuhe Expressway project includes the development of 2-lane dual carriageway of 58.72 km long connecting inner ring road of Yu Bei district and Hechuan County. The project also includes 55 bridges, 5 tunnels, and 2 Interchanges along the carriageway.
Chongqing Yuhe Expressway Company Limited has toll rights and guaranteed annual subsidies in China. The expressway commenced operations in 2002 and has concession period till 2032.
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