IVRCL Infrastructure & Projects has tied up Rs 191 crore of debt with a
single bank for the Baramati-Phaltan road project. Of the remaining funds, Rs 69
crore are amassed by way of sponsor funds and Rs 122 crore as grant from the
state government.
The Maharshtra Government had awarded the Rs 382-crore project for widening,
construction, operation and maintenance of two-lane road into four-lane from
Baramati-Phaltan of State Highway-10 and Mahad-Shirwal-Lonand-Phaltan-Pandharpur
of SH-20 in Pune and Satara districts.
The project is to be executed by SPB Developers, an SPV floated for this
purpose.
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