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Gammon gets financial closure for 5 road projects

April 2013

Gammon Infrastructure Projects has received financial closures for five road projects spread across different states. The company received a total grant of over Rs 1,000 crore for these projects, according to Parag Parikh, ED and CFO, Gammon Infra. The five road projects include Yamunanagar-Panchkula in Haryana, Patna-Buxar in Bihar, Sidhi-Singrauli in Madhya Pradesh, Birmitrapur Barkote in Orissa and Vijayawada Gundugolanu in Andhra Pradesh.

All of these projects have been financially closed through different large banks and institutions and so it does sort of give us a very strong sense of comfort that the projects will now gradually progress on its implementation phase, Parikh said.

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