In a bid to reduce debt levels, IL&FS Transportation Networks (ITNL) is reportedly planning to sell most of its operational annuity road projects. Annuity-based projects are the ones where the developer is reimbursed the cost of building a particular road project and gets a return on investment every six months after starting commercial operations. The company has appointed a financial adviser to monetize some assets before the end of FY16 and has received early interest from a few buyers.
IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.
