PNC Challakere Achieves Financial Closure For One Of Highway Projects On HAM
PNC Infratech Limited (the Company) informs that PNC Challakere (Karnataka) Highways Private Limited, Company’s wholly owned subsidiary, has submitted duly executed financing documents to NHAI for the following Hybrid Annuity Model (HAM) Project. Details of the project is annexed below:
|Name of SPV and Project||Bid Project Cost (Rs. In Crores)||Construction and Concession Period|
SPV: PNC Challakere (Karnataka) Highways Private Limited
Project: Development of Four Laning from km 358.500 to km 414.205, Challakere to Hariyur section of NH-150 A, On Hybrid Annuity Mode under Bharatmala Pariyojna in the State of Karnataka
Construction Period: 730 days
Concession Period including Construction Period: 17years
The Company is within the timeframe for achieving the Financial Closure as specified in the Concession Agreement for this project. With the above submission, the Company has submitted duly executed financing Documents to NHAI with regard to the Financial Closure for all the 7 (seven) Hybrid Annuity Model (HAM) Projects secured by it so far.