Indian company 3148 IL&FS Transportation Networks (IL&FS Transportation) will push ahead with vital major national road projects after securing loans worth more than US$480 million from lenders such as Yes Bank, IndusInd Bank and IL&FS Financial Services.
Of the loaned amount, $211.84 million from Yes Bank will be used to help finance the expansion of the Khed-Sinnar Section of NH-50 in Maharashtra to four lanes, while another $272.43 million from IL&FS Financial Services and IndusInd Bank will be used to help finance the expansion of Barwa Adda Panagarh Section of NH-2 in Jharkhand and West Bengal. The first project is estimated to cost about $322.16 million, while the second one is estimated to cost about $389.31 million.
Of the loaned amount, $211.84 million from Yes Bank will be used to help finance the expansion of the Khed-Sinnar Section of NH-50 in Maharashtra to four lanes, while another $272.43 million from IL&FS Financial Services and IndusInd Bank will be used to help finance the expansion of Barwa Adda Panagarh Section of NH-2 in Jharkhand and West Bengal. The first project is estimated to cost about $322.16 million, while the second one is estimated to cost about $389.31 million.
