Gayatri Infra Ventures, a subsidiary of Gayatri Projects, intends to raise
around Rs 1,500 crore debt to fund a road project in Andhra Pradesh.
The fund will be raised for development of Hyderabad-Karimnagar-Ramagundam
road project worth Rs 2,200 crore. The project is being taken up on BOT mode by
the Andhra Pradesh Road Development Corporation.
Gayatri Infra has appointed IL&FS as a syndicating agency and aims to achieve
the financial closure by December 2010. According to sources, Rs 230 crore will
be the equity and Rs 450 crore will come as a grant from the Andhra Pradesh Road
Development Corporation.