Dilip Buildcon completes highway project in Andhra Pradesh

Dilip Buildcon Limited (DBL) has announced that the project “Rehabilitation and Up gradation of NH-18 (New NH-40) from Km 108/850 to Km 160/200 (Rayachoty to Kadapa section) to two lane with paved shoulder in the state of Andhra Pradesh under corridor approach through Engineering, Procurement & Construction (EPC) basis” has been provisionally completed.

The Provisional Completion Certificate has been issued by the authority and has declared the project fit for entry into commercial operation.

Consequently, the company is entitled to the maximum bonus of Rs. 3,56,40,000/- in lieu of earlier completion (60 days prior to the schedule completion date).

Last year, Dilip Buildcon Ltd had said its wholly owned subsidaries DBL Rewa Sidhi Highways Private Limited and DBL
Chandikhole Bhadrak Highways Private Limited have received the sanction letters to finance their Hybrid Annuity Mode (HAM) projects.

In a statement to National Stock Exchange, the company said the said SPVs have also submitted all the requisite financing documents to National Highways Authority of India (NIIAI) in accordance within the stipulated timelines given in the concession agreement related to the financial closure.

Image credit : 3.imimg.com

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