DBL forms SPVs to kick start Rs. 63-bn road projects

    Dilip Buildcon
    In order to fast track projects it recently secured from the NHAI in the country’s road and highway sector, Dilip Buildcon has recently announced incorporation of five new special purpose Vehicles (SPVs) for executing the projects involving a staggering investment worth Rs 63.06 billion. In this connection, it has formed five new SPVs to undertake the new HAM (Hybrid Annuity Mode) projects. The SPV firms are DBL Nidagatta Mysore Highways, DBL Gorhar Khalrahrnda Highways, DBL Mangloor Highways, DBL Borgaon Watambare Highways and DBL Mangalwedha Solapur Highways. The company had said last month that it has bagged two projects worth Rs 44.73 billion to be constructed under hybrid annuity mode. Under HAM, the government commits up to 40 per cent of a project cost and hands it over to the developer, who has to fund the balance 60 per cent with debt and equity combination, it claimed in an official statement.
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