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Our Bureau

New Delhi, Dec. 8

Infrastructure company DS Constructions Ltd on Friday announced the syndication of debt worth Rs 414 crore for achieving financial closure of two road projects — the Rs 450-crore Lucknow-Sitapur and the Rs 286-crore Raipur-Aurang road sections. The debt for the two projects has been raised from a consortium of banks, led by State Bank of Tranvancore, the company said in a release. These projects, awarded by National Highway Authority of India (NHAI), are being implemented on a build, operate and transfer (BOT) basis over concession periods spanning 20 years for the Lucknow-Sitapur section and 25 years for the Raipur-Aurang Road section, it said.

Speaking on the occasion, Mr N.D. Mehra, Director, DS Constructions Ltd, said, "We have successfully raised the entire debt requirement of Rs 414 crore for both our projects well within the stipulated time period... All the requisite resources such as manpower, machinery and equipment have already been mobilised for these strategic projects and work on the project has already begun."

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