Headline: IL&FS Divests Entire Stake in Jorabat Shillong Expressway
ROADS & HIGHWAYS

Headline: IL&FS Divests Entire Stake in Jorabat Shillong Expressway

In a significant move, IL&FS Transportation Networks has announced the sale of its entire equity stake in Jorabat Shillong Expressway Ltd (JSEL) to Sekura Roads for a consideration of Rs 1,343 crore. JSEL was a wholly-owned subsidiary of IL&FS Transportation Networks.

This divestment marks a strategic decision by IL&FS Transportation Networks to streamline its operations and focus on its core competencies. The company has successfully transferred all liabilities associated with JSEL to the buyer, Sekura Roads.

During the financial year 2017-18, Jorabat Shillong Expressway Limited contributed Rs 380.03 crore (including other income) to the consolidated revenue of Rs 9,778.92 crore generated by IL&FS Transportation Networks. This represents a significant 3.89% share of the company's overall revenue.

It is important to note that the sale of the entire equity stake in JSEL does not constitute a slump sale. Jorabat Shillong Expressway will continue to operate a four-lane highway connecting Jorabat to Shillong on NH-40, facilitating seamless transportation between Shillong, Mizoram, Tripura, and Guwahati.

In a significant move, IL&FS Transportation Networks has announced the sale of its entire equity stake in Jorabat Shillong Expressway Ltd (JSEL) to Sekura Roads for a consideration of Rs 1,343 crore. JSEL was a wholly-owned subsidiary of IL&FS Transportation Networks. This divestment marks a strategic decision by IL&FS Transportation Networks to streamline its operations and focus on its core competencies. The company has successfully transferred all liabilities associated with JSEL to the buyer, Sekura Roads. During the financial year 2017-18, Jorabat Shillong Expressway Limited contributed Rs 380.03 crore (including other income) to the consolidated revenue of Rs 9,778.92 crore generated by IL&FS Transportation Networks. This represents a significant 3.89% share of the company's overall revenue. It is important to note that the sale of the entire equity stake in JSEL does not constitute a slump sale. Jorabat Shillong Expressway will continue to operate a four-lane highway connecting Jorabat to Shillong on NH-40, facilitating seamless transportation between Shillong, Mizoram, Tripura, and Guwahati.

Next Story
Infrastructure Energy

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Next Story
Infrastructure Urban

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Next Story
Infrastructure Energy

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?