Kaithal-Rajasthan border NH-152/65 toll road

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The project being developed by Kaithal Tollway Pvt Ltd ("Project Company") entails the four-laning of 166KM Kaithal-Rajasthan border section of the National Highway 152/65 (NH-152/65) toll road in India. The project company is a 100% subsidiary of IRB Infrastructure Developers ("Sponsor"). The contract was awarded by a process of competitive bidding by National Highways Authority of India (NHAI), under National Highway Development Project Phase - IV. This is a brownfield project to developed on a DBFOT toll basis.Concession period is 27 years with an estimated construction time of just under three years. The project is expected to get USD $ 36.0 million as viability gap funding from NHAI. The total project cost is USD $359.7 million to be funded in a debt to equity ratio of 60:40. The total debt of USD $ 218.62 million will be provided by 8 local project finance institutions-Bank of Baroda, Bank of Maharashtra, Canara Bank, IDBI Bank, India Infrastructure Finance Company, Indian Overseas Bank, Infrastructure Development Finance Company, Union Bank of India. They will be contributing USD 27.33 million each. The sponsor will invest USD $141.1 million in equity. i) http://www.livemint.com/Companies/BHUorbmH8sjPWAf4R6UjgO/IRB-Infrastructure-wins-Rs2300-crore-toll-road-project-in-H.html ii) http://www.irb.co.in/toll_uc.aspx iii) Dealogic report iv) https://ijglobal.com/articles/91556/irb-preferred-bidder-on-indian-nh-152-65-toll-road