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IL&FS Transportation Networks to bid for projects worth Rs 4,000 cr

Monday, 30 Jul 2018

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IL&FS Transportation Networks (ITNL) is planning to bid for projects worth Rs 4,000 crore. The move is followed by IL&FS- the parent group approving a Rs 8,000 crore recapitalisation plan for the company.

The ILFS board has approved the business plan which includes a rights issue of Rs 4,500 crore and another Rs 3,500 crore of liquidity.

The company also has around Rs 5,500 crore worth of claims pending with National Highways Authority of India (NHAI) and claims worth another Rs 800 crore are pending with the Ministry of Road Transport and Highways (MoRTH).