IL&FS Transportation Networks achieves financial tie-up of loans worth Rs 47.15 crore

20 Nov 2012

IL&FS Transportation Networks has achieved financial tie-up of loans for a sum of Rs 47.15 crore on November 16, 2012. The company has executed loan agreements with Central Bank of India for the same.  Earlier, the company and its subsidiary, Futurcage Infrastructure India had been mandated with the project for undertaking the development of an Integrated Multi level Automatic Car Parking facility and real estate portion of approx 4944 sq. meters at Khilwat, Hyderabad by the Greater Hyderabad Municipal Corporation (GHMC), Hyderabad.

The concession agreement was signed on May 25, 2012 for a period of 30 years including construction period of 2 years. The estimated cost of the Project is Rs 72.54 crore and the revenue to the project shall accrue from parking fee and leasing of retail space during the concession period.

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