Date:12/10/2006 URL: http://www.thehindubusinessline.com/2006/10/12/stories/2006101201740200.htm

Back Madhucon's TN project closure

Our Bureau

Hyderabad, Oct 11

TN (DK) Expressways Ltd, promoted by Madhucon Projects, has achieved financial closure for its build-operate-transfer (BOT) project in Dindigul in Tamil Nadu.

The Rs 360-crore project will design, construct, develop, operate and maintain a stretch between Karur and Dindigul on the NH-7 with a 20-year concession period and positive grant of Rs 86 crore. SBI is the leader of the consortium for the special purpose vehicle.

Madhucon Projects is executing 330-km toll roads awarded by the National Highway Authority of India (NHAI) costing Rs 1,700 crore, with Rs 408 crore positive grant.