Lanco Infra achieved financial closure for two road projects.

Thebullishtrends: Lanco Infratech shares are trading at Rs.459. Lanco Infratech Ltd has announced that the financial closures for the two road projects awarded by National Highways Authority of India (NHAI) to LANCO at Karnataka to be developed on Build-Operate-Transfer (BOT) basis have been successfully achieved.

The debt requirement for these projects has been tied up with State Bank of India and its Associate Banks with State Bank of India being at the lead. The two road projects are the 81 Km Bangalore-Hoskote-Mudbagal stretch on National Highway 4 and 82 Km Neelamangla — Devihalli stretch on National Highway 48. The project involves six laning of 16 Km stretch and four laning of the remaining stretches. The total project cost is estimated at Rs 13,480 million.

The concession periods are 20 and 25 years for the two projects respectively including 30 months of construction period. The contracts were awarded through a competitive bidding process. The projects would be financed through a mix of Equity, Debt and Grant from NHAI.At present, the power portfolio includes an operating capacity of 519 MW and additional capacities under construction aggregating to more than 3,400 MW with plans under advanced stages of finalization for beginning of construction of another 3600 MW. The construction and EPC wing has an order book worth Rs 114 billion.