In order to complete the road projects on schedule, Sadbhav Infrastructure Project Ltd and Piramal Group entered into an agreement to provide financing of Rs. 600 crore. According to the official sources, the funds will be directed towards extension of facilities as growth capital and disbursement is closely tied to speed up the underlying road projects. The parent company, Sadbhav Engineering, holds about 69 per cent stake in its subsidiary SIPL in road and infrastructure BoT/hybrid annuity projects. It is responsible for 24 BoT/hybrid annuity projects under its purview as 10 of these are fully operational, one is partially operational and the remaining ones are undergoing various stages of construction.
