Atlanta has received the sanction of term loan and underwriting by Punjab National Bank (PNB) for its Special Purpose Vehicle (SPV) company viz. Lucknow Varanasi Tollways Private. The BOT project entail the SPV Company to carry out the work of four laning of Lucknow -Sultanpur section of NH-56 from Km 11.500 to Km 134.700 in the State of Utter Pradesh under NHDP Phase IVA through Public Private Partnership (PPP) on Design, Build, Finance, Operate and Transfer (DBFOT) on Toll Basis. Atlanta along with its subsidiary is holding 49% stake in the SPV company.
The total cost of the project is Rs 1395.54 crore. PNB has agreed to underwrite the term loan for an amount of Rs 976.88 crore for the said project and the balance amount to be in the form of Equity. Thus the entire funding requirement for the Project has been secured.
Atlanta is a leading infrastructure company with proven track records of over three decades of experience in engineering, procurement, construction (EPC) and realty. It has presence in three of the country’s fastest growing segments -- infrastructure development, mining and realty.
