| The company in joint venture with Nagarjuna Constructions Company and Maytas Infra Pvt Ltd, was awarded the Rs 765-crore elevated expressway project by the National Highway Authority of India early this year on a negative grant of Rs 16 crore. |
| The consortium has secured Rs 600 crore debt for the project from a consortium of 10 banks led by Canara Bank, which will alone contribute Rs 100 crore. The balance, Rs 175 crore, of the project cost has been pooled in by the three consortium partners equally, SEL director Ankineedu Maganti told Business Standard. |
| The work on the construction of the elevated expressway has already commenced with the completion of soil investigation and design work. |
| The foundation work at the site has begun and the casting yards are ready for the casting of super structures. |
| The project is expected to be completed in two years and the expressway will be opened in July 2008. The consortium will build and operate the road for 20 years before transferring it to NHAI. |
| Maganti said, "We have achieved the financial closure in a record time and as agreed with NHAI at the time of bidding we have paid back Rs 16 crore negative grant to them today." |
| The consortium has formed a special purpose vehicle "� Bangalore Elevated Tollway Limited "� for this project. The expressway will be an access-controlled, elevated four-lane road from the Silk Board junction to Electronic City (including interchange) on Hosur Road. |
| The road below the elevation will be widened into 6 lanes with two lanes of service roads on either side. NHAI has proposed to widen the existing four-lane section between Electronic City and the Tamil Nadu border (km 33.2) to six lanes. |
| Beyond the Electronic City junction (from km 18.8 to km 33), the project consortium will construct two vehicular underpasses by box pushing technique. |
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