IL&FS Transport to develop eight rail over bridges in Gujarat.

IL&FS Transportation Networks recently announced a pact with Gujarat government to develop eight railway over bridges entailing investment of about Rs. 251 crore under the PPP mode.

'The concession agreement was signed ... with the Roads & Building Department, Government of Gujarat, for development of 8 Railway Over Bridges (ROBs) in Gujarat under PPP ( Public Private Partnership) mode on annuity basis through a subsidiary of the company,' IL&FS Transportation Networks said in a filing to BSE.

The concession period of the project is 17.5 years, including construction period of 2.5 years.

'The semi-annual annuity payable will be Rs. 21.99 crore for a period of 15 years,' it added.


ET