Gammon Infra SPV achieves financial closure
Thursday, 28 May 2009
Gammon Infrastructure Projects Ltd has announced that Rajahmundry Godavari Bridge Ltd, the special purpose vehicle incorporated for implementing the project for designing, constructing, financing, operating and maintaining a major bridge across the river Godavari connecting Rajahmundry and Kovvur in Andhra Pradesh has achieved the financial closure for its project with a consortium of bankers for an aggregate loan amount of up to INR 566 crore.
However, the estimated Project cost is INR 861 crore. The Project is entitled to a Central Government grant of INR 118.6 crore and a grant of INR 88.95 crore from the Government of Andhra Pradesh. The Project is on BOT basis for a period of 25 years, including a construction period of 3 years.
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