Madhucon Projects subsidiary achieves financial closure for TN expressway

Madhucon Projects Ltd has announced that TN (DK) Expressways Ltd promoted by the Company for Design, Construct, Develop, Operate and Maintain of KM 305.600 to KM 373.275 between Karur and Dindigul in Tamil Nadu NH-7 at a cost of Rs 360 crores with 20 years concession period and positive grant of Rs 86 crores on BOT basis achieved financial closure. SBI is the leader of the consortium for the SPV.

The Company is executing 330 KM Toll Roads awarded by NHAI costing Rs 1700 crores with Rs 408 crores positive grant, which is the highest for any construction Company in India.

The Company is a pioneer in construction of National Highways, Dams, Canals, Aquaducts, Flyovers, Coal handling plants, Bridges, Railway Projects, Toll roads as developers and Residential cum Commercial ventures. The Company's Order book position in Highways, Toll roads, Irrigation projects, Flyover Projects and Residential cum Commercial and Railway projects is over Rs 5000 crores.

Source : Equity Bulls

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