IL&FS Transportation Networks, in consortium with Spanco, emerged as a lowest bidder for a project with the M P Road Development Corporation. The project involves up-gradation, modernisation, development, operation and maintenance of 24 border check posts across the state of Madhya Pradesh on build operate and transfer basis.
The Project is fee based with a concession period of 4,566 days and the estimated cost of the project is Rs 1,094 crore. IL&FS has received a letter of award from MPRDC for the project. ITNL will hold 51 per cent in the consortium whereas its partner Spanco will hold 49 per cent of total equity capital.