Ashoka Buildcon associate completes debt refinancing with SBI

NEW DELHI: Roads developer Ashoka Buildcon Ltd today said one of its associates, Jaora-Nayagaon Toll Road Company ( JTCL), has completed refinancing of its debt of Rs 552 crore with SBI.

"After refinancing, the interest cost has been reduced to 9.80 per cent per annum, resulting in a saving of 1.50 per cent per annum," the company said in a filing to BSE.

JTCL is executing the project for design, construction, finance, strengthening, widening, operation and maintenance on BOT basis for the four-laning of Jaora-Nayagaon section in Madhya Pradesh, it said.

The highway developer has an impressive portfolio of over 28 PPP (public-private partnership) projects.