IL&FS Transportation Networks announced on 26 March that it had signed a concession agreement with the Roads & Building Department, Government of Gujarat.
The concession period of the project is 17.5 years, which includes the construction period of 2.5 years.
As per the pact, the company will develop eight railway overbridges (ROBs) in Gujarat, under the PPP mode, through a subsidiary of the company.
The total investment is approximately Rs 251 crore. The semi-annual annuity payable will be Rs 21.99 crore for a period of 15 years.