Shares of IRB Infrastructure Developers and IL&FS Transportation Networks jumped 4% each after the Government on Thursday cleared road projects worth nearly Rs 12,000 crores under the viability gap funding scheme.
Most of the projects are at an advanced stage of bidding while the construction work has also started on some projects. The projects are from Andhra Pradesh, Uttar Pradesh, Maharashtra and Bihar.
The approval, given under the Scheme for Financial Support to Public Private Partnership (PPPs) in Infrastructure, is for a stretch of over 1,226 km. A viability gap funding of Rs 2,295 crore has been provided under the scheme. The projects are expected to result in disbursal of about Rs 500 crore from the government in the current financial year, the finance ministry said in a statement.
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