The
Moradabad Bypass Project being implemented by Moradabad Toll Road Company – a
special purpose vehicle floated by National Highways Authority of India – has
attained financial closure.
The
Rs.103 crore project envisages the constructing of a bypass on the National
Highway (NH) number 24 in the state of Uttar Pradesh, on a
build-operate-transfer basis. Of the total project cost, Infrastructure
Development Finance Corporation (IDFC) has invested Rs.40 crore while State
Bank of India has put in Rs.32.4 crore. NHAI has invested Rs.23.4 crore while
EPC contractor, UP State Bridge Corporation, has subscribed to the extent of
Rs.7.2 crore.
All
the four companies would have equity participation in the project.