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Kundli-Manesar-Palwal Expressway achieves financial closure

Monday, 08 Jan 2007
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On 8 January 2007, KMP Expresssways, an SPV floated by DS Constructions, UK-based Apollo Enterprises and Hyderabad-based Madhucon Projects achieved financial closure for the construction of 135-km Kundli-Manesar-Palwal expressway project awarded by Haryana State Industrial and Infrastructural Development Corporation (HSIIDC).

The KMP Expressway, also known as the western peripheral expressway is the largest expressway project in the country on BOT basis. Out of the total cost of Rs.1,915 crore, the SPV has tied up a debt of Rs.1,149 crore, through a consortium of 12 banks/financial institutions led by IDBI. The arrangers for the debt are SBI Capital Markets and IDBI.

The expressway project envisages construction of the 135.6 km, access controlled expressway from NH-1 near Kundli (Sonipat) crossing NH-10 at west of Bahadurgarh, crossing NH-8 at Manesar (Gurgaon) and joining NH-2 near Palwal (Faridabad). Work on the project is underway and is scheduled for completion by July 2009.

Also See:

Work starts on Kundli-Manesar-Palwal Expressway (18-Oct-06)

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