KNR Constructions Ltd., announced on 13 May 2013 that KNR Walayar Tollways Private Limited, a subsidiary of the company, which is implementing the project for Four laning of 53.89km Walayar - Vadakkancherry Section of NH - 47 from km 182.250 to km 240.000 in the State of Kerala under NHDP phase II through Public Private Partnership on Design, Build, Finance, Operate and Transfer Toll Basis has signed the financing documents with Central Bank of India, Bank of India, Corporation Bank, Canara Bank and Vijaya Bank.

The project cost is Rs 900.51 crores (US$164 million) which would be financed by means of equity of Rs. 135.91 crores, grant of Rs. 264.60 and debt of Rs. 500.00 crores.

As per the Concession Agreement executed by KNR Walayar Tollways Private Limited with NHAI, the conession period of the project is 20 years including construction period of 910 days.