Lanco achieves financial closure for 2 road projects

Hyderabad: Lanco Infratech Ltd, the Hyderabad-diversified infrastructure company, on Friday announced financial closure for two major road projects.

According to a statement from the company Chief Financial Officer, Mr J. Suresh Kumar, it covers National Highways Authority of India award of projects to Lanco in Karnataka to be developed on Build-Operate-Transfer (BOT) basis.

The debt requirement for these projects has been tied up with State Bank of India and its associate banks. The two road projects are the 81-km Bangalore-Hoskote-Mudbagal stretch on National Highway 4, and the 82-km Neelamangla–Devihalli stretch on National Highway 48.

Costs

The project involves six-laning of a 16-km stretch and four-laning of the remaining stretches. The total project cost is estimated at Rs 1,348 crore. The concession periods are 20 and 25 years for the two projects respectively, including 30 months as construction period.