HCC ties up funds for projects in Bengal

November 9, 2010

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Hindustan Construction Company (HCC) has mopped up funds for three road projects in West Bengal. Together, the projects entail a cost of Rs 3,300 crore and have a debt component of Rs 1,600 crore.

Yes Bank is the sole debt arranger and syndicator of the debt. Other financial institutions are India Infrastructure Finance, Dena Bank , Syndicate Bank and Oriental Bank of Commerce. The total loan tenure is 12 years and the interest rate is 10.8 per cent.

The projects include four-laning of Baharampur-Farakka section on NH-34, covering a distance of 103 km; development of existing two lanes into four lanes between Farakka and Raiganj (103 km) and between Raiganj and Dalkhola (50 km), also on NH-34. HCC has acquired the required land and work will commence in November 2010.

The projects that will be executed on DBFOT basis are to be completed by mid-2013.

Written by ITW Editor · Filed Under Uncategorized

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