IL&FS Transportation Networks, the transportation infrastructure company, announced that the concession agreement was signed on Mar. 25, 2015 with the Roads & Building department, government of Gujarat for development of 8 Railway Over Bridges (ROBs) in the State of Gujarat under PPP Mode on Annuity basis through a subsidiary of the company.

The project has a concession period of 17.5 years (incl. construction period of 2.5 years) at a total project cost of Rs 2.50 billion. The semi-annual annuity payable will be Rs 219.9 million for a period of 15 years.

Shares of the company declined Rs 0.3, or 0.16%, to trade at Rs 192.00. The total volume of shares traded was 9,268 at the BSE (1.56 p.m., Thursday).