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IL&FS Transportation Networks’ arm to foreclose Beawer-Gomti Road Concession Agreement

23 Jan 2020 Evaluate

IL&FS Transportation Networks’ subsidiary -- ITNL Road Infrastructure Development Company (IRIDCL) has entered into a Tripartite Agreement with Ministry of Road Transport & Highways (MoRTH) and Project Lenders (through Union Bank of India, Lead Bank) for foreclosure of the Beawer-Gomti Road Concession Agreement.

Pursuant to the above, IRIDCL will receive from MoRTH a settlement amount of Rs 144.08 crore within 7 days from the date of the Agreement and thereafter will hand over the toll operations of the Project to MoRTH.

IL&FS Transportation Networks is an India-based surface transportation infrastructure company.

Peers
Company Name CMP
Larsen & Toubro 3654.10
Kalpataru Projects 1344.15
NCC 127.60
Rail Vikas Nigam 194.50
KEC International 343.35
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