KNR Muzaffarpur Barauni Tollway (KMBTPL), the subsidiary of KNR Constructions has achieved financial closure for two laning of Muzaffarpur-Barauni section in Bihar.
The company has signed the financial agreement with Punjab National Bank, State Bank of Bikaner and Jaipur, State Bank of Patiala and Corporation Bank for the implementation of two laning of Muzaffarpur-Barauni section of NH-28 from KM 519.00 to KM 627.00 in Bihar under NHDP Phase IVB through PPP mode on DBFOT toll Basis. The project is estimated to cost Rs 359.09 crore. Of which, Rs 109.09 crore will be raised through equity and the remaining Rs 250 crore will be raised through debt. As per the agreement executed by the company with the NHAI, the concession period for the project is 21 years including construction period of 710 days.