KNR Constructions achieves financial close of four Indian road concessions

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KNR Constructions has announced the financial close of four road-widening projects in India in the past few weeks.

Most recently, on Wednesday the company announced that it had received the financial closure letter from the National Highways Authority of India (NHAI) for a 17-year concession to widen a section of National Highway (NH-227) in the state of Tamil Nadu to four lanes. The bid project cost is INR10.206 billion (US$143.6 million).

Earlier this month similar letters were received for concessions to widen sections of NH-161 in Telangana (INR12.34 billion (US$173.6 million)), NH-140 in Andhra Pradesh (INR17.3 billion (US$243.4 million)) and another section of NH-227 in Tamil Nadu (bid project cost: INR4.82 billion (US$67.8 million)).

KNR's announcements detail that despite letters being received from NHAI on different days, the dates of financial closure for all four concessions are the same: 4 January 2019. The company has not provided any financial details of the closures.

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