Palsit Dankuni Tollway, a wholly-owned subsidiary of IRB Infrastructure Developers (SPV), has achieved financial closure for a road project in West Bengal.
The project involves six-laning of National Corridor NH-19 from Palsit to Dankuni (up to NH-6 Connector) from 588.870 km to 652.700 km (total design length - 63.830 km) in the state of West Bengal under Bharatmala Pariyojana to be executed on BOT (Toll) basis.
The cost of the project is Rs 2,314 crore. The concession period is 17 years from the appointed date (including construction period of 910 days).
The company will get tolling rights on the project from the appointed date. The premium payable as a percentage of revenue is 10.8 percent commencing after one year of actual completion date and increasing annually by one percent thereafter.
The total senior debt of Rs 1,650 crore has been tied up with the senior lenders, and with necessary approvals, equity contribution will be made by the company & its associate viz IRB Infrastructure Trust (Private InvIT).