The wholly owned subsidiary of KNR Constructions Ltd, KNR Shankarmpet Projects, has achieved financial closure for a hybrid annuity model highway project in Telangana entailing an investment of ₹1,234 crore. KNR Shankarmpet Projects, which bagged a contract for four-laning of Ramsanpalle to Mangloor section of National Highway-161 in Telangana under Bharatmala Pariyojana, has received the sanction letter for bank finance. The road project in question has a construction period of two years and a concession period of 17 years and the secured sanction letter is well within the specified period of the concession agreement for financial closure of the project.
