Banks lend Rs15 bn to IL&FS arm for metro project

Recently, a consortium of banks provided Rs 1,500 crore loan to IL&FS Transportation Networks for executing the Rapid MetroRail Gurgaon South Extension project in Haryana. This information was given by IL&FS Transportation Networks in a communication to stock exchange. However, the consortium of banks is not known. Haryana Urban Development Authority awarded the metro rail project to a consortium of IL&FS Transportation Networks and its subsidiary IL&FS Rail for developing the 6.5 km rail Metro Link Extention from Sikanderpur Station to Sector 56, Gurgaon (Project) on a DBFOT (Design, Build, Finance, Operate and Transfer) basis.