Dilip Buildcon forms 5 SPVs for Rs 6,307cr worth NHAI projects

Dilip Buildcon announced incorporation of five new SPVs for projects worth Rs 6,306.9 crore awarded by National Highways Authority of India. "The company has incorporated five new SPVs (special purpose vehicles) to undertake the new HAM (Hybrid Annuity Mode) projects," the company said in a filing to BSE. 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 filing said. The company had said last month it has bagged two projects worth Rs 4,473 crore 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.