Financial Closure Achieved By VK1 Expressway Private Limited

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The SPV ' VK1 Expressway Private Limited' achieved financial closure for section widening project on Vadodara- Mumbai Expressway. The section under widening is 23.40 km long and between Vadodara to Padara. Vadodara-Mumbai expressway is 380 km long under construction expressway of 6 -lane.

Under this HAM (Hybrid- Annuity Mode) procurement method the section will be widened from 6-lane to 8 lane. Preferred bidder 'IRB Infrastructure Development' achieved financial closure for the project in short span of 20 day, securing funds of 9810 Million INR. The funding came from NHAI (National Highway Authority of India) and equity portfolio of project owner contributing 8170 Million & 2450 Million INR consecutively. 

The concession period of project is 15 years.

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