PTI reported that L&T Infrastructure Development Projects has achieved financial closure for 2 of its road projects in Maharashtra.
The company in a statement said that financial closure for the projects which will be funded by an ICICI Bank led consortium was achieved on November 30th.
It said that the projects involve 4 laning of contiguous stretches on NH-6 including Amravati to Jalgaon and Jalgaon to the Gujarat-Maharashtra border on design, build, finance, operate and transfer basis.
The estimated cost of the projects is INR 2,537.81 crore for the Amravati to Jalgaon stretch and INR 1,968.37 crore for the Jalgaon to Gujarat to Maharashtra border stretch.
It added that the concession period for the Amravati to Jalgaon and the Jalgaon to Gujarat to Maharashtra projects is 19 years and 20 years, respectively, which includes the construction period of 2.5 years.
It furhter added that both the projects are a part of the East to West connector linking hubs of economic activity in Gujarat and Maharashtra to the mineral rich States of Odisha and Chhattisgarh.