A consortium of Ramky Infrastructure Ltd, in a 50:50 joint venture with IL&FS Transportation Networks Ltd, has closed the requisite funding for a road project in Andhra Pradesh.

The consortium was awarded a project by the Andhra Pradesh Road Development Corporation for design, construction, finance, operation and maintenance of four-laning of Narketpally-Addanki- Medarametla Road (State Highway-2) from km zero to km 212.5 under the public private partnership mode. The company had signed a concession agreement on July 23rd 2010.

The tollway project has a concession period of 24 years including construction phase of 30 months. The total cost of the project is INR 1760.53 crore.

(Sourced from BL)