The Hindu Business Line : IVRCL achieves financial closure for Jalandhar road project

IVRCL Infrastructures & Projects Ltd has announced that it has achieved financial closure for its Jalandhar-Amritsar road project awarded by National Highways Authority of India (NHAI).

The company said the project involves improvement, operation and maintenance including strengthening and widening of the existing two-lane road to four-lane duel carriageway from km 407.100 to km 456.100 of NH-1 (Jalandhar-Amritsar section) in Punjab on build, operate and transfer (BOT) basis.

IVRCL is executing this project through special purpose vehicle (SPV) called Jalandhar Amritsar Tollways Ltd, a wholly owned subsidiary of the company.

The estimated project cost is Rs 237.75 crore, of which the loan component is Rs 157 crore. Canara Bank is financing it to the extent of Rs 60 crore, Allahabad Bank Rs 50 crore and State Bank of Bikaner and Jaipur Rs 47 crore with Canara Bank as the lead lender of the consortium.

The company said the balance project cost is being financed by way of equity from IVRCL Road Toll Holdings Ltd, another wholly owned subsidiary of the company to the extent of Rs 41.3 crore and grant from NHAI to the extent of Rs 39.45 crore.

More Stories on : New Business | Roadways

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
IVRCL achieves financial closure for Jalandhar road project

Ethics and Governance — Next global frontier for India Inc

Audi appointment

Luxor acquires stake in prep school

UB Group to set up wine bottling plant at Baramati

Mack Brooks, Inter Ads tie up for airport expos

Apollo to serve Ethiopian patients

NTC close to assuming single corporate entity

India Vision to launch second channel in Nov

TMA office-bearers