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.
