Welspun Enterprises achieves financial closure for Package I of Delhi-Meerut expressway

Welspun Enterprises Limited has achieved financial closure for Package I of the Delhi-Meerut expressway project. This is the first hybrid annuity-based project to have closed financially. Package I entails a total cost of Rs 8.41 billion, of which 40 per cent will be funded by NHAI. Welspun Enterprises has managed to arrange debt worth Rs 4 billion from a consortium of banks led by Punjab National Bank. The other bankers are the State Bank of Hyderabad and the Union Bank of India. The project will be developed in 2.5 years and maintained for a period of 15 years.