IL&FS Transportation Networks Ltd and Ramky Infrastructure to swap their stakes in two road joint ventures

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It has been recently announced that  Ramky will acquire a 50% stake in NAM Expressway Ltd  from IL&FS Transportation and at the same time IL&FS will acquire a 50% stake in Jorabat Shillong Expressway from Ramky. As part of the transaction, IL&FS Transportation will receive a net payment of RS43.20 crore (US$6.16 million) for the two transactions.

Jorabat Shillong Expressway was formed with the intention to implement a lane-expansion project following a build-operate-transfer model. The joint venture was given a period of 20 years to design, construct, develop, finance, operate and maintain a 61.8 km stretch between Jorabat in Assam and Barapani in Meghalaya. The concession expires in January 2031.

Narketpally - Addanki - Medarametla Road involves the conversion of Km 0.000 to 212.500 four-lane expressway. The road is located in Telangana, formerly part of the state of Andhra Pradesh until its division in 2014. The 24-year concession contract is structured on a build, operate and transfer basis.

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