In what could probably be the biggest sale of road projects in the country, troubled infrastructure developer and financier, Infrastructure Leasing & Financial Services (IL&FS) has decided to monetise 10,092 km of road projects as it sought expression of interest from potential investors. The sale of the assets by the new board of IL&FS is a part of plan for a resolution of the cash-strapped firm. The IL&FS board, acting on behalf of its relevant subsidiaries including ITNL (IL&FS Transport Network Ltd.) has initiated the process of exploring the divestment of the IL&FS Group’s equity stakes in road assets, the company said in a statement. The projects on the block are seven operating annuity-based road projects in various parts of the country totalling 1,774 km, eight operating toll-based road projects of 6,572 km, four under-construction road projects of 1,736 km upon completion, and three other assets and businesses, which are EPC and O&M businesses of IL&FS Transportation Networks, and a sports complex in Thiruvananthapuram. The proposed sale of stakes held by IL&FS Group in the assets may be carried out as a basket / individually or as an undertaking comprising all offered assets and businesses, IL&FS said.
IL&FS to monetise road assets
