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Gandeva-Ena Road

Sector: Road • Location: India

Source: World Bank Group

Project
Active

The project entails an 8-lane motorway road located in Surat (Gujarat, India). The total cost is $ 232.71 million. Sponsors of the 27.5KM Gandeva-Ena road are IRB Infrastructure Developers, providing a total equity of $ 34.59 million, or 15% of the whole financing. The debt providers are Bank of India, India Infrastructure Finance Company Ltd., UCO Bank and Union Bank of India. NHAI India provided

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The project “Gandeva-Ena Road” is an infrastructure initiative in the Road sector, located in India. Taiyo aggregates data on it from World Bank Group.

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Description

Description

The project entails an 8-lane motorway road located in Surat (Gujarat, India). The total cost is $ 232.71 million. Sponsors of the 27.5KM Gandeva-Ena road are IRB Infrastructure Developers, providing a total equity of $ 34.59 million, or 15% of the whole financing. The debt providers are Bank of India, India Infrastructure Finance Company Ltd., UCO Bank and Union Bank of India. NHAI India provided $ 95.98 million for the project (government grant), which is being developed under a HAM model. Debt to equity ratio is 75:25. The project reached financial closure on January 19, 2021 and is within Phase 1 of the Bharatmala Pariyojana pan-Indian roads programme. https://ijglobal.com/data/transaction/52187/gandeva-ena-road-275km-ppp https://www.careratings.com/upload/CompanyFiles/PR/06072021063313_VM7_Expressway_Private_Limited.pdf https://www.careratings.com/search?Id=0xifvEYOQAsk9qVecOj5Yw==

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