Hyderabad-based Ramky Infrastructure has tied up Rs 1,440 crore debt to execute the prestigious Srinagar-Banihal highway project in Jammu & Kashmir, the company said in a statement.
The infrastructure firm had won the Rs 1,600 crore project from National Highways Authority of India (NHAI) in a joint venture with Jiangsu Provisional Transportation Engineering Group (JTEG), China.
Ramky has 72% stake in SBEL while the remaining 26% is with the JTEG. The project will be build on design, build, construction, development, operation and maintenance of the rehabilitation basis for four-laning and strengthening of road stretches.
The agreement for the project with a concession period of 20 years including construction period of 1095 days was signed on October 28 last year.