L&T IDPL achieves financial closure in Maharashtra

L&T Infrastructure Development Projects (L&T IDPL) today said it has achieved financial closure for two of its road projects in Maharashtra.

The financial closure for the projects, which will be funded by an ICICI Bank-led consortium, was achieved on November 30, the company said in a statement.

The projects involve four laning of contiguous stretches on NH-6 including Amravati to Jalgaon (275 km) and Jalgaon to Gujarat-Maharashtra border (209 km), on design, build, finance, operate and transfer (DBFOT) basis, it said.

The estimated cost of the projects are Rs 2,537.81 crore for the Amravati-Jalgaon stretch and Rs 1,968.37 crore for the Jalgaon to Gujarat-Maharashtra border stretch.

The concession period for the Amravati-Jalgaon and the Jalgaon to Gujarat-Maharashtra projects are 19 years and 20 years, respectively, which includes the construction period of 2.5 years, the release said.

Both the projects are a part of the east-west connector, linking hubs of economic activity in Gujarat and Maharashtra to the mineral-rich states of Odisha and Chhattisgarh, it said. L&T IDPL has been a major player in public private partnership (PPP) projects with interests in roads and bridges, ports, metro rail and emerging sectors such as transmission lines, water and railways.

The company currently handles a portfolio of infrastructure assets worth Rs 40,000 crore comprising 17 road projects, 3 ports and a metro rail project, the release said.