Ashoka Buildcon’s Associate Company refinances debt of Rs 552 crore with SBI

Jaora-Nayagaon Toll Road Company (JTCL), one of the Associates Company of Ashoka Buildcon has completed refinancing of its debt of Rs 552 crore with State Bank of India (SBI). After refinancing the interest cost has been reduced to 9.80% p.a. resulting in a saving of 1.50% p.a.

Further, JTCL executes the Project viz. to carry on the business of Design, Construction, Finance, Strengthening, Widening, Operation and Maintenance on BOT basis for the Four Laning of Jaora - Nayagaon section from Km. 126/200 to 252/200 of State Highway - 31 in the State of Madhya Pradesh.

Ashoka Buildcon builds and operates roads and bridges in India on a build, operate and transfer (BOT) basis. It currently operates one of the highest numbers of toll-based BOT projects in India.