IL&FS Transportation Networks’ wholly owned subsidiary -- IIPL Laos, Singapore has entered into a contract for rehabilitation and development works of the National Road No 1 (section F) with a length of 165 km including construction of 33 new bridges in the People’s Democratic Republic of Laos. The contract is awarded to a consortium in which IIPL Laos is the lead member having 90% stake.
The construction period for the Project is 42 months at an estimated cost equivalent to $165 million. The payment for the contract is committed from the Government of Laos and payable based on milestones over a period of 7 years of which 60% is payable during the construction period.
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.
