KNR Construction achieves financial closure of road project in Kerala

KNR Construction achieves financial closure of road project in Kerala

KNR Construction achieves financial closure of road project in Kerala

13-MAY-13

KNR Construction’s subsidiary KNR Walayar has achieved financial closure of road project in Kerala, through public private partnership (PPP) on design, built, finance, operate and transfer toll basis. It has signed the financing documents with Central Bank of India, Bank of India, Corporation Bank, Canara Bank and Vijaya bank.

The project is for four-laning of 53.89 km Walayar- Vadakkancherry section of NH- 47 from km 182.25 to km 240 under NHDP phase 2. The project cost is Rs 9 billion which would be financed by means of equity of Rs 1.34 billion, grant of Rs 264.60 and debt of Rs 5 billion.

The concession period for the project is 20 years including construction period of 910 days.