Samakhiyali Tollway Private Limited, a subsidiary of IRB Infrastructure Developers, has secured financial closure for the Samakhiyali-Santalpur BOT highway project in Gujarat, India, with a total cost of Rs 2,092 crore. The project will be executed under the Build Operate and Transfer (BOT) mode. Lenders have extended Rs 1,446 crore in debt support, while the remaining Rs 646 crore will come from equity contributions and internal accruals. This achievement follows the recent commencement of the Hyderabad Outer Ring Road project, and IRB has now achieved financial closure for all projects in its portfolio, with a focus on execution and future opportunities.
Samakhiyali Tollway Private Limited, a subsidiary of IRB Infrastructure Developers, has successfully achieved financial closure for its ambitious Samakhiyali Santalpur BOT highway project in the Indian state of Gujarat. This project, with an estimated cost of Rs 2,092 crore, is set to significantly enhance the region's transportation infrastructure. The company is poised to execute this project under the Build Operate and Transfer (BOT) mode, marking a significant milestone in India's infrastructure development.
The financial closure was announced in a statement by IRB Infrastructure Developers last week. It detailed the project's cost and the means through which it will be financed. The funding structure for this substantial project involves a consortium of lenders, which has extended debt support amounting to Rs 1,446 crore. The remaining Rs 646 crore will be sourced from equity contributions and internal accruals from the concessionaire, demonstrating a multifaceted approach to financing this critical infrastructure endeavour.
The Samakhiyali-Santalpur highway project in Gujarat spans a length of 90.90 kilometres and comes with a concession period of 20 years from the date of appointment. The project's significance lies not only in its scale but also in its role in enhancing connectivity and transportation infrastructure in the region. IRB Infrastructure Developers emerged as the highest bidder for this project, receiving the Letter of Award (LoA) on February 24, 2023. Subsequently, the concession agreement was signed on May 12, 2023, with the National Highways Authority of India (NHAI).
This achievement represents a significant milestone for IRB Infrastructure Developers as it continues to expand its footprint in the infrastructure development sector. The company's commitment to completing financial closure for all projects in its portfolio underscores its dedication to executing critical infrastructure projects that benefit the nation.
With this financial closure secured, the focus for IRB Infrastructure Developers now shifts to the execution of the Samakhiyali Santalpur BOT project and actively pursuing upcoming opportunities in the infrastructure sector. The successful completion of this project is expected to contribute significantly to the enhancement of transportation networks in Gujarat and, by extension, the economic development of the region.
In conclusion, the financial closure of the Samakhiyali Santalpur BOT highway project in Gujarat represents a major achievement for IRB Infrastructure Developers. With a substantial investment of Rs 2,092 crore and a commitment to enhancing transportation infrastructure, this project underscores the company's dedication to infrastructure development in India. The successful financial closure paves the way for the project's execution and underscores IRB Infrastructure Developers' position as a key player in India's infrastructure development landscape.
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