IL&FS Transportation Networks today announced a pact with Gujarat government to develop eight railway over bridges entailing investment of about Rs 251 crore under the PPP mode.
"The concession agreement was signed ... With the Roads & Building Department, Government of Gujarat, for development of 8 Railway Over Bridges (ROBs) in Gujarat under PPP (Public Private Partnership) mode on annuity basis through a subsidiary of the company," IL&FS Transportation Networks said in a filing to BSE.
The concession period of the project is 17.5 years, including construction period of 2.5 years.
"The semi-annual annuity payable will be Rs 21.99 crore for a period of 15 years," it added.
