ILandFS Trans - Update on Financial tie up for Four Laning of Kiratpur to Ner-Chowk Section of NH-21 in the State of Himachal Pradesh
IL&FS Transportation Networks Ltd has informed BSE that the Company was issued a Letter of Award by the National Highways Authority of India (“NHAI”) for Four Laning of Kiratpur to Ner-Chowk Section of NH-21 from Km 73.200 to Km 186.500 in the State of Himachal Pradesh to be executed as BOT (Toll) on DBFOT pattern wider NHDP Phase - III (the “Project”) for which the Concession Agreement was also signed with the NHAI. The Project is on Toll basis with a concession period of 28 years including construction period of 3 years and the estimated cost of the Project is Rs. 1818.47 Crores. The Company had quoted a grant of Rs. 134.57 Crores for Project.
Further, the financial tie-up of loans aggregating to Rs. 1474.86 Crores has been achieved and loan agreements have been executed with Yes Bank Ltd on March 29, 2012.