To implement highways projects jointly under public private partnership (PPP) mode IL&FS Transportation Networks has got into a partnership with East Nippon Expressway Company. IL&FS Transportation Networks is a subsidiary of leading infrastructure developer IL&FS while Nippon Expressway Company (NEXCO East) is a Japanese expressway construction and operation firm.
Both the companies to the MoU believe that the market for expressways in India is on verge of take off and will become a large programme and hence wish to work together through a strategic alliance for implementation of PPP road projects.
A statement said that the alliance aims at utilising Japanese technology as well as Japanese finance; both companies will jointly carry out technical and pre-feasibility studies, and other related works, of potential road projects in India for implementation.
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