GRICL Rail Bridge Development, a wholly-owned subsidiary of IL&FS Transportation Networks, will build eight railway over-bridges in Gujarat at an estimated cost of Rs 250.85 crore. The financial tie up of loans aggregating to Rs 188 crore has been achieved for the project and the loan agreements were executed with consortium of banks on December 15, 2016.
GRICL Rail Bridge Development Company, a special purpose vehicle, is mandated for undertaking the development of eight railway over-bridges (ROBs) under PPP mode on annuity basis by the R&B Department, Gujarat. The project is on annuity basis with a concession period of 17.5 years and the estimated cost of the project is Rs 250.85 crore. The semi-annual annuity payable will be Rs 21.99 crore for a period of 15 years.
IL&FS Transportation Networks is an India-based surface transportation infrastructure company. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance under public to private partnership on build-operate-transfer (BOT) basis.
