IL&FS Transportation Networks has been selected as a preferred bidder by Chongqing Expressway Group (CEG) and Chongqing State Owned Assets Supervision and Administration Commission of Chongqing (SASAC) for acquisition of 49% equity stake in 58 Kms Yu He Expressway Company connecting downtown Chongqing with Hechuan county in Chongqing, China having toll concession rights till June 2032.
Further, consequent to the company being selected as a preferred bidder, CEG, SASAC and the company has entered into an agreement at Chongqing on December 9, 2011 for acquiring 49% stake held by SASAC.
IL&FS Transportation Networks has been involved in the development, operation and maintenance of national and state highways, roads (including urban roads), flyovers and bridges in Andhra Pradesh, Delhi, Gujarat, Maharashtra, Karnataka, Uttar Pradesh, Kerala, Jharkhand and Rajasthan.
