NHAI raises money to part fund Rs 87, 000 cr Delhi-Mumbai expressway
New Delhi: NHAI’s special purpose vehicle DME Developers (DMEL) has raised Rs 9,731 crore to part fund Delhi-Mumbai expressway.
DMEL is a fully owned SPV of NHAI.
“The major share of the funding came from the largest bank in India, the State Bank of India, which contributed Rs 5,000 crore. PNB, Bank of Maharashtra and Axis Bank are the other investors in the SPV,” NHAI said in a statement.
The overall estimated cost of the greenfield Delhi Mumbai expressway is Rs 87,453 crore. This includes the land acquisition cost of Rs 20,589 crore or so.
In the construction stage, the capital expenditure is estimated to be around Rs 53,849 crore.
The expressway will also tie up with other financial institutions for the balance debt need of Rs 38,733 crore. This expressway is slated to be completed by March 2023.