SAM advises ICICI Bank on ₹509.34 Cr Ludhiana-Bathinda highway loan

Shardul Amarchand Mangaldas & Co advised ICICI Bank Limited on the extension of a project finance term loan facility of ₹509.34 crore to Ceigall Ludhiana Bathinda Greenfield Highway Private Limited for the development of a six-lane greenfield highway between Ludhiana and Bathinda in Punjab, India.

The SAM transaction team was led by Soummo Biswas (Partner), Dnyanraj Desai (Partner), Aakaansha Arya (Associate), Shravani Bhide (Associate) and Amandeep Saini (Associate).

The project is being developed under a concession agreement with the National Highways Authority of India (NHAI). NHAI is also providing additional financial support by way of a grant covering 40% of the bid project cost (excluding GST).

The Ludhiana–Bathinda Expressway is a 75.543 km long standalone greenfield project, beginning from the Delhi-Amritsar-Katra Expressway at Ballowal village near Ludhiana and ending at Rampura Phul near Bathinda. It is part of the larger Ludhiana–Ajmer Economic Corridor (EC-8) and is expected to be completed by the end of 2026 .

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