A consortium of bankers agreed to provide Rs 830 crore syndicated loan to Hospet-Chitradurga Tollways (HCTL) for the Rs 1,102.81-crore road project in Karnataka. HCTL is a special purpose vehicle (SPV) formed to undertake the Hospet- Chitradurga road project by Ramky Infrastructure. The consortium of bankers comprises Axis Bank, IDBI Bank, Bank of India, IIFCL, State Bank of Hyderabad, State Bank of Patiala, State Bank of Travancore, Central Bank of India and Oriental Bank of Commerce, Ramky Infrastructure said.
YR Nagaraja, Managing Director of Ramky Infra, said the successful fi nancial tie-up for the road project was a refl ection of the trust the market has placed in the company.
The company was awarded Rs 1,102.81-crore project by NHAI January this year for four-laning of Hospet-Chitradurga section of NH 13 under National Highways Development Project (NHDP) on design, build, fi nance, operate and transfer basis in build, operate, transfer (BOT) toll mode.
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