The Jharkhand Government has given its acceptance to the subsidiary of IL&FS Transportation for the construction of Ranchi Ring Road at an estimated cost of Rs 587.60 crore.
“The Government of Jharkhand has issued a Letter of Acceptance for 6 laning of Ranchi Ring Road, Section VII from Kathitanr to Karma comprising of 23.575 km for development by Jharkhand Infrastructure Implementation Co Ltd, a subsidiary of the company, on a Built Operate Transfer (BOT) basis,” the company said today.
It further said: “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 added that it will receive a semi-annual annuity of Rs 55.82 crore.
