IL&FS Transportation Networks announces foreclosure of Beawer-Gomti Road Concession Agreement

For settlement amount of Rs 144.08 crore

IL&FS Transportation Networks announced that ITNL Road Infrastructure Development Company, a subsidiary of the company has entered into a tripartite agreement with Ministry of Road Transport and Highways (MoRTH) and project lenders (through Union Bank of India, Lead Bank) for foreclosure of the Beawer-Gomti Road Concession Agreement (agreement).

Pursuant to the above, IRIDCL will receive from MoRTH a settlement amount of Rs 144.08 crore within 7 days from the date of agreement and thereafter will hand over the toll operations of the project to MoRTH.

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