Financial Daily from THE HINDU group of publications
Friday, Apr 04, 2003

News
Features
Stocks
Port Info
Archives

Group Sites

Logistics - Roadways


Tada-Nellore road project likely to be completed by Sept

Our Bureau

KOLKATA, April 3

THE Rs 755-crore Tada-Nellore expressway project is likely to be completed by September. The project is India's largest BOT project and involves foreign direct investment.

Stating this, sources at Srei International Finance Ltd said that IJM Corporation Berhad had met 23 per cent of the project cost. Srei had extended Rs 55 crore loan for the project, which is being implemented by Swarna Tollways Pvt Ltd.

He said that IJM, one of Malaysia's largest and most diversified construction groups, is also involved in the Rs 212.51-crore Rewa Tollways Pvt Ltd, which is promoting two expressway projects in Madhya Pradesh.

These projects - one linking Rewa with Amarkantak and the other linking Satna with Umaria - involve strengthening, widening, upgrading, operating and maintaining State expressway stretches in Madhya Pradesh.

Of the total project cost of these two stretches - measuring 388 km together - the State Government has given a Rs 82.6 crore grant with the balance funding coming in the form of a Rs 28-crore equity infusion by IJM and a debt finance of Rs 101.91 crore, of which Rs 34.9 crore is being given as a loan by Srei. The State Bank of India, State Bank of Indore and the State Bank of Hyderabad and the Dena Bank have also lent money for this project.

Article E-Mail :: Comment :: Syndication

Stories in this Section
AI decision on aircraft purchase next week


Chennai port's net surplus to dip by Rs 23 cr
NMPT registers record traffic throughput
Paradip traffic capacity to cross 40 mt
Tata Steel may export thru Haldia
Minister pushes for tonnage tax
Rail Bhavan to weed out uneconomic branch lines
With IBRD aid, Kerala builds a road to the future
Coimbatore cracks down on road safety violators
Tada-Nellore road project likely to be completed by Sept
Kolkata vehicles told to conform to Bharat II norms
75 pc drop in corporate travel to South-East Asian countries — Chennai airport begins SARS screening


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |

Copyright 2003, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line