IL&FS Transportation to develop multi-level car parking at GIFT City

Gujarat International Finance Tec-City Company Ltd and GIFT Parking Facilities Ltd, a wholly owned subsidiary of the company has inked a concession agreement with IL&FS Transportation Networks Ltd for developing a multi-level car parking facility at GIFT City.

The project to be developed on BOOT basis involves design, development, finance, construction, operation and maintenance of multi-level car parking facility for period of 30 years. The multi-level car parking facility comprise of 16 floors, including retail space at the ground level, with capacity of around 5400 car parking spaces.

Around 80% of the parking spaces would be allocated to the lessee/developers of various buildings in the GIFT City whereas the remaining 20% shall be made available as paid parking facility to the visitors to the GIFT City. Besides, the revenue shall also be generated from leasing of retail space.

EPC World News Bureau

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