Ceigall India Achieves Financial Closure For Two Projects Ahead Of NHAI's Timeline

Infrastructure company Ceigall India Ltd. on Thursday said it has achieved financial closure for two projects in Uttar Pradesh.

Total project value is Rs 2,498.50 crore, Ceigall India said in a statement.

"The company has successfully achieved financial closure for two Hybrid Annuity Mode (HAM) projects in Ayodhya—Northern Ayodhya Bypass (35.40 km) and Southern Ayodhya Bypass (32.17 km)," it said.

Both closures were secured within 83 days—well ahead of the 150-day timeline set by the National Highways Authority of India.

Achieving financial closure means having in place all the approvals as well as funding arrangements for a project.