8/10/2019 Era Infra Achieves Financial Closure

1/2

Tweet

0 0

RecommendRecommend

Tags: UP road project | nhai | financial closure | Era Infra Engineering Ltd. | ERA INFRA

10 best tax-savinginvestments

Apple cuts online price ofiPhone 5S to clear stocks; tiesup with Amazon, Flipkart andSnapdeal

How a two-year-old firm ishitting a daily turnover of Rs4,000 crore today

Era Infra achieves financial closurefor Rs 1,951 cr UP road projectPTI Jan 12, 2011, 03.45pm IST

NEW DELHI: Engineering firm Era Infra on Wednesday said it has achieved financial closure for Rs 1,951

crore Bareilly-Sitapur road project in Uttar Pradesh, awarded to it by the National Highways Authority of India

(NHAI).

"The 151-km highways project has achieved commitments for the entire debt component of Rs 1,350 crore --

Rs 675 crore each by State Bank of Indiaand Union Bank of India," Era Group Chief Financial Officer Joy

Saxena said.

The financial closure documents have been submitted to NHAI for their final clearance, Saxena said.

The Delhi-based company had bagged the project for upgrading National Highways no 24 section last year.

The Rs 290-crore equity for the project on engineering, procurement and construction (EPC) basis would be

infused by the company, while the NHAI will be contributing Rs 290 crore as grant, he said.

Construction on the project has commenced and it is likely to be completed by 2013, he added.

The company had received the contract for four laning (widening) of Bareilly-Sitapur section under National

Highways Development Project Phase-III on Design, Build, Finance, Operate and Transfer (DBFOT) toll

basis.

Apart from Rs 1,350-crore projects in the road sector, including Gwalior bypass that are scheduled for

completion by June this year, the company has recently bagged Rs 1,659 crore order from NHAI for four

laning of Muzaffarnagar-Haridwar and Haridwar-Dehradun sections of National Highway.

Shares of Era Infra were trading at Rs 200.40, up 0.02 per cent from the previous close, in the afternoon

trade on the Bombay Stock Exchange.

Era Infra Engineering Ltdis the flagship company of Era Group, engaged in construction of highways,

railways, airports, power and industrial projects, institutions and universities, residential and commercial

complexes.

FEATURED ARTICLES

More:

BSE NSE

5.41

-1.09 % -0.06

Vol: 472 shares traded

5.40

-0.91 % -0.05

Vol: 1091 shares traded

Prices |Financials | Company Info | Reports

Era Infra Engineering Ltd.

RELATED ARTICLESEra Infra achieves fin closure of Rs 1,100 crroad project

August 11, 2010

IL&FS Transportation bags NHAI project

March 14, 2012

Reliance Infra to announce financial closure ofroad...

March 11, 2011

IN-DEPTH COVERAGE

Nhai

FOLLOW ET:Log In / Join

Construction

Construction Engineering Cement Chem / Ferti lisers Metals & Mining Packaging Paper / Wood / Glass/ Plast ic/ Marbles Petrochem Steel

SENSEX

28,458.10 -104.72NIFTY

8,538.30 -26.10GOLD (MCX) (Rs/10g.)

26,375.0 -261.0USD/INR

61.77 -0.17LOGINto Track

your Investments04:04 PM | 05 DecMARKET STATS

EOD

Home Industry Auto Banking/Finance Cons. Products Energy Ind'l Goods/Svs Heal thcare/B io tech Services

Indiatimes The Times of India The Economic Times More

You are here: Home > Collections > Nhai

fraachievesfinancialclosureforRs1,951crUProadproject Eco... hp://arcles.economicmes.indiames.com/20110112/news

12/7/2014

8/10/2019 Era Infra Achieves Financial Closure

2/2

How a two-year-old firm is hitting a daily

turnover of Rs 4,000 crore today

India's first e-reader Wink unveiled, supporting

15 languages

BITS-Goa student Krunal Kishorbhai Patel lands

Rs 1.4-crore offer from Google

Tableau Software, Atlassian prepare for IPO

amid market woes

Facebook signs up IIT graduates for Rs 1.55

crore; companies offer more jobs this

placement season

Hyundai: Price war under way in US car

market

More from The Economic TimesArunachal Pradesh can take care o f half of

the country's power deficit:07 Dec 2014

Government to launc h revamped Kisan Vikas

Patra soon: Official 28 Oct 2014

78 companies vanish after raising funds; 17

in Gujarat07 Dec 2014

India's Best Companies For CSR 2014: Top 5

slots split between TATA28 Nov 2014

Recommended by

Readers' opinions (NaN)

Sort by: Newest | Oldest

HIV - The Deadly Viru s

HIVonwanebutmillionsofsex

workersliveontheedge

HIVmaybeonthewane,buttherearesll

millionsofsexworkerswhohavelilechoice

buttoliveontheedgeandthefuturelooks

preygrim.

'Nonprevalent'10statesseeriseinHIV

paents

10thalassemicchildreninPakgetHIVdueto

transfusion

SPOTLIGHT

2014 Bennett, Coleman & Co. Ltd. All rights reserved Index by Keyword|Index by Date

www.economictimes.com Feedback|Privacy Policy|Terms of Use|Advertise with us

fraachievesfinancialclosureforRs1,951crUProadproject Eco... hp://arcles.economicmes.indiames.com/20110112/news

12/7/2014