Gayatri Projects achieves financial closure for 2 SPVs
December 5, 2007
Hyderabad-based leading infrastructure company, Gayatri Projects ltd, has achieved financial closure of Rs 932.71 crore ahead of the stipulated time for its two road projects, to be developed through special purpose vehicle (SPVs), at an interest rate of 11 %.
IL&FS has syndicated the entire debt and United Bank of India is the leader of the consortium of lenders for both the SPVs.
The projects undertaken by Gayatri Projects Ltd-led consortium are Hyderabad expressways pvt ltd (HEPL) and Cyberabad expressways pvt ltd (CEPL) with a project costs of Rs 430.96 crore and Rs 501.75 crore respectively.
While the total syndicated debt in case of HEPL is Rs 290.90 crore, it is Rs 376.31 crore for CEPL.
The infrastructure major-led consortium had won the bid for the HEPL and CEPL—the eight lane outer ring road projects— floated by Hyderabad Urban Development Authority (HUDA).
The construction period for both the HEPL & CEPL is 2 years and six months. HUDA will pay a semi-annual annuity of Rs 30.49 crore to HEPL during the annuity period of 12 years six months while the semi-annuity amount is pegged at Rs 39.50 crore in case of CEPL for the similar period.
Source: moneycontrol.com
Gayatri Projects SPVs achieve financial closure
December 4, 2007
Gayatri Projects Ltd has announced that the Company has achieved the financial closure for the Company’s following Hyderabad Outer Ring Road Projects (SPV’s) at an interest rate of 11% p.a., ahead of the stipulated time given by the Employer namely Hyderabad Urban Development Authority (HUDA).
Financial Closure of Hyderabad Expressways Pvt Ltd (HEPL) - Total cost of the Project Rs 430.96 crores: M/s. Hyderabad Expressways Pvt Ltd promoted in Consortium, by the Company as lead technical member, with 50% share holding, bid and won road project (AP-IV) for design, construction, development, finance, operate and maintain eight lane access controlled expressway under Phase II programme of outer ring road (ORR) of Hyderabad Urban Development Authority. The concession Agreement was signed on August 17, 2007. The total debt syndicated for this Project is Rs 290.90 crores.
IL&FS (IL&FS Financial Services Ltd) has syndicated entire debt and United Bank of India is the Leader of the Consortium of Lenders for the SPV.
Details of the package awarded are as follows: AP IV - from Bongulur to Tukkuguda from km. 108 to km. 121 on BOT - Annuity basis. Estimated Project Cost incl. IDC is around Rs 430.96 cr. and the project has a positive Grant of Rs 71.86 crores. HUDA will pay a semi-annual annuity of Rs 30.49 crore to HEPL during the Annuity period. The concession period door-to-door is 15 years, with. a construction period of 2 years 6 months and Annuity period of 12 years 6 Months.
Financial Closure of Cyberabad Expressways Pvt Ltd (CEPL) - Total cost of the Project Rs 501.75 crores: M/s. Cyberabad Expressways Pvt Ltd promoted in Consortium by the Company as lead technical member with 50% share holding, bid and won road project (APII) for design, construction, development, finance, operate and maintain eight lane access controlled expressway under Phase II programme of outer ring road (ORR) of Hyderabad Urban Development Authority.
IL&FS (IL&FS Financial Services Ltd) has syndicated entire debt and United Bank of India is the Leader of the Consortium of Lenders for the SPV.
Details of the package awarded are as follows: AP II - from Kollur to Patancheru from km. 12 to km. 23.70 on BOT - Annuity basis. Estimated Project Cost incl. IDC is Rs 501.75 crores and the project has a positive Grant of Rs 81 crores. Annuity - Rs 79 cr. p.a. HUDA will pay a semi-annual annuity of Rs 39.50 crore to CEPL during the Annuity period. The concession period door-to-door is 15 years, with a construction period of 2 years 6 months and Annuity period of 12 years 6 Months. The concession Agreement was signed on August 17, 2007. The total debt syndicated for this Project is Rs 376.31 crores
The Company is a pioneer in construction of National Highways, Dams, Canals, Aquaducts, Flyovers, Coal handling plants, Bridges, Railway Projects, Airport Runways, BOT Toll and Annuity Road Projects as develop and Industrial Constructions.
Source: equitybulls.com
Maytas-NCC consortium wins airport projects from Karnataka
November 22, 2007
Two separate SPVs are to be set up for the airport projects. Maytas Infra, NCC and VIE will hold 37%, 37% and 26% stake in the two SPVs, respectively
Maytas Infra Ltd. announced on Tuesday that a consortium involving itself, NCC Infrastructure Holding Ltd. and VIE India Project Development and Holding LLC has bagged an order to develop and operate proposed airports at Gulbarga and Shimoga on BOT (build-operate-transfer) basis.
The contract has been awarded by the Infrastructure Development Department of the Karnataka Government.
Two separate Special Purpose Companies (SPVs) are to be set up for the airport projects. Maytas Infra, NCC and VIE will hold 37%, 37% and 26% stake in the two SPVs, respectively.
The construction period is 24 months from the date of signing the agreements. The concession period is 30 years and the agreement can be extended for a further period of 30 years.
Source: indiainfoline.com