IL&FS Transportation to build eight ROBs in Gujarat

IL&FS Transportation Networks has announced that it has signed a pact with the Gujarat government to develop eight railway over bridges entailing investment of about Rs 251 crore under the PPP (public private partnership) 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 mode on annuity basis through a subsidiary of the company,” IL&FS Transportation Networks said in a filing to the Bombay Stock Exchange (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.