IL&FS Transportation Networks Ltd has informed Bombay stock Exchange (BSE) that the company has closed financing for two road infrastructure projects.

Six Laning of Barwa Adda Panagarh Section of NH-2

IL&FS Transportation Networks has informed that it has tied up loans aggregating to Rs. 17,044 million (US$274 million) with Induslnd Bank and IL&FS Financial Services Ltd to finance the development and operation of Six Laning of Barwa Adda Panagarh Section of NH-2.

The company was issued a Letter of Award by the National Highways Authority of India (NHAI) for development and operation of Six Laning of Barwa Adda Panagarh Section of NH-2 from Km 398.240 to Km 521.12 including Panagarh Bypass in the States of Jharkhand and West Bengal under NHDP Phase Y on DBFOT pattern for which the Concession Agreement was also signed with NHAI on May 08, 2013.

The project is on Toll basis with a concession period of 20 years including construction period of 910 days and the estimated cost of the project is Rs. 24,348.6 million (US$391 million).

Four laning of Khed-Sinnar section of NH-50

IL&FS Transportation Networks Ltd has also informed that the company has closed financing for this project. The company has got a Rs. 13,250 million (US$213 million) loan from Yes Bank Ltd.

IL&FS was issued a Letter of Award by the National Highways Authority of India (NHAI) for four laning of Khed-Sinnar section of NH-50 from Km 42.000 to Km 177.000 (design length - 137.946 km) in the state of Maharashtra under NHDP Phase IV on Design, Build, Finance, Operate and Transfer (DBFOT) basis for which the Concession Agreement was also signed with NHAI on May 09, 2013.

The project is on Toll basis with a concession period of 20 years including construction period of 910 days and the estimated cost of the project is Rs. 20,152.9 million (US$324 million).