IL&FS Transportation Networks updates on Ranchi Ring Road project.

Concession agreement signed with Govt. of Jharkhand
IL&FS Transportation Networks announced that the Concession Agreement for development of 6 laning of Ranchi Ring Road, Section VII from Kathitanr to Karma comprising of 23.575 Kms has been signed by Jharkhand Infrastructure Implementation Co, a subsidiary of the Company with Govt of Jharkhand on a Built Operate Transfer (BOT) basis ('the Project') on 07 August 2015.

The Project is on Annuity basis with a Concession Period of 17.5 years including Construction Period of 2.5 years. The estimated cost of the Project is Rs 587.60 crore. The Company shall receive annuity of Rs 111.64 crore per annum upon completion of the Project.

BS