‪‬‪‪KNR Constructions Ltd has achieved financial closure for a National Highway tollway project to be executed by the company in Kerala.‬

‪The Rs 900.51-crore project awarded by the National Highways Authority of India is being executed through its subsidiary KNR Walayar Tollways Private Ltd.‬

‪The company has signed financing documents with a clutch of banks, including Central Bank of India, Bank of India, Corporation Bank, Canara Bank and Vijaya Bank for the debt component.‬

‪Of the Rs 900.51 crore required for the project, equity will account for Rs 135.91 crore, grants Rs 244.60 crore and debt component Rs 500 crore.‬

‪The project entails four-laning of a 53.89-km road stretch in the Walayar-Vedakkancherry Section of the NH-47 from 182 km to 240 km in Kerala. This National Highway Development Phase II project is being implemented under the design, build, finance, operate and transfer mode.‬

‪It has a concession period of 20 years, including a construction phase of 910 days.‬

‪The company shares were trading at Rs 87.85, up 3.54 per cent at BSE during the day.‬

>rishikumar.vundi@thehindu.co.in‬

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