GVK Power & Infrastructure has announced that GVK Bagodara Vasad Expressway, a step down subsidiary of the company, which is implementing the project for Six Laning of existing three lanes of Bagodara -Wataman - Tarapur - Vasad Road SH-8, Km 0/0 to Km 101/9 in the state of Gujarat on build, operate and transfer basis, has signed the financing documents on November 16th 2011 with AXIS Bank.

The project cost is INR 11.89 billion which would be financed by means of equity of INR 2.97 billion and debt of INR 8.91 billion. As per the concession agreement executed by GVKBVEPL with Gujarat State Road Development Corporation, the concession period for the project is 27 years including construction period of 30 months.

(Sourced from IRIS.com)