IL&FS Transportation Network has received approval for incorporation of a new subsidiary of the Company that will act as the sponsor of a proposed Infrastructure Investment Trust (Trust). The Board of Directors of the Company at its meeting held on November 28, 2019 has approved the same. Further, the Board has granted in-principle approval to transfer the Company’s shareholding in nine SPVs to the Trust.
IL&FS Transportation Networks is an India-based surface transportation infrastructure company. The company is a developer, operator and facilitator of surface transportation infrastructure projects, taking projects from conceptualization through commissioning to operations and maintenance under public to private partnership on build-operate-transfer (BOT) basis.