Patna Highway Projects, a SPV formed by Gammon Infrastructure Projects, has
achieved financial closure for upgradation of Hajipur - Muzzaffarpur section.
The company has mopped up funds worth Rs 846 crore as term loan.
The company is implementing the four-laning of the section of existing NH-77
(from km 0.000 to km 46.300) and construction of 16.870 km new four lane divided
carriageway bypass starting at km 46.300 on NH-77 and connecting NH-28 of
east-west corridor at km 515.045 in Bihar on BOT (Annuity) basis.
The project is estimated to cost Rs 940 crore. The concession period is 15
years including a construction period of 2.5 years.
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