Sadbhav Bangalore Highway (subsidiary of Sadbhav Infrastructure Project ) achieves Financial Close
Sadbhav Infrastructure Project announced that its wholly owned subsidiary - Sadbhav Bangalore Highway has achieved Financial Close within the timelines stipulated in accordance with the Concession Agreement dated 08 December 2016.Salient features of the Financial Close are as under -
Bid Project Cost - Rs 1008 crore
Rupee Term loan - Rs 484 crore
Payment during construction period from NHAI - Rs 403 crore
Company's contribution - Rs 121 crore
Rupee term loan tenure (from appointed date) - 16 years
Interest rate linked to 1-year MCLR of respective banks - 9.25% p.a.
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