Reliance Infrastructure is close to achieving financial closure for its road project portfolio with the tying up of debt of around 2,468 crore for two of the projects bagged in 2010. The company raised debt of 1,914 crore for Delhi-Agra project and 554 crore for Hosur-Krishnagiri project, which it is developing for National Highways Authority of India (NHAI).
NHAI may give its nod for the financial closure for these projects by the end of this month. After the transfer of most of its power assets and all upcoming projects to group company Reliance Power, Reliance Infrastructure has evolved as an infrastructure company which operates as a developer as well as a contractor. It also generates and distributes power.
The company is developing 25 infrastructure projects worth 40,000 crore. This includes 11 road projects worth about 12,000 crore, covering 970 km. The company has so far commissioned three road projects and plans to commission five more in the current fiscal (2010-11). It expects annual revenue of around 1,000 crore by 2011-12 against 25 crore in 2009-10.
The Delhi-Agra road project is being set up at a total cost of 2,945 crore, which includes government grant of 180 crore, debt of 1,914 crore and equity investment worth 851 crore. SBI Capital Market has syndicated debt for this project at an average rate of interest of 9.5%. The project entails six-laning of a 180-km stretch of the highway, connecting Delhi to Agra. The company would construct and collect toll on the road for 26 years, which includes 2.5 years for construction.crackcrack
| Company Name | CMP |
|---|---|
| NTPC | 396.10 |
| Tata Power | 435.70 |
| Adani Power | 203.05 |
| Power Grid Corp | 319.30 |
| Torrent Power | 1622.05 |
| View more.. | |
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