DS Constructions Ltd inks Rs 414 crore road deals

DS Constructions Ltd, a pioneer in PPP infrastructure development and engineering construction in India, on Friday, announced it had signed deals for Rs 414 crore and was on its way towards achieving financial closure on the Rs 450-crore Lucknow-Sitapur and the Rs 286-crore Raipur-Aurang road projects.

Of the total cost of Rs 736 crore for the two projects, Rs 414 crore of debt has been raised from a consortium of banks, led by the State Bank of Tranvancore.

The Rs 214-crore debt of the Lucknow-Sitapur project is financed by State Bank of Tranvancore (Rs 47 crore), Allahabad Bank (Rs 50 crore), Indian Infrastructure Finance Company (Rs 47 crore), Bank of Baroda (Rs 47 crore) and State Bank of Mysore (Rs 23 crore).

Work on the Lucknow-Sitapur project, on National Highway 24, involves improvement, operation and maintenance, including strengthening and widening the existing two-lane road to four-lane (from 413.200 km to 489.13 km).

The total number of structures is 92, including a major bridge, four minor bridges along with five vehicular underpasses.

Talking to Business Standard, Rafi Q Khan, head, corporate communications, DS Constructions, said: "All the requisite resources such as manpower, machinery and equipment have already been mobilised for these strategic projects and work on the project has begun. The connectivity of the Lucknow-Sitapur project will lead to economic growth in the region by giving impetus to local firms in Lucknow, known for its handloom industry, glass and glass products, paper, etc. and Sitapur, which is an important centre for grain, oilseeds, jute, sugar and plywood industries."