The consortium consisting of Karnataka Bank Limited and Indian Bank and led by Karnataka Bank Limited provided project financing facilities to Kakatiya Expressway Private Limited, a special purpose vehicle set up by VDB Projects Private Limited, for the construction of the green field access controlled four lane highway section of National Highway 163G (Warrangal – Khammam) from Thallasenkesa village at design ch. km. 189.650 to V. Venkatayapalem village in Khammam district at design ch. km. 220.480 (total length 30.830 kms) under other economic corridor NH(O) programme of the National Highways Authority of India. The total cost of the green field four lane highway section between Thallasenkesa village and V. Venkatayapalem village is INR 678 Crore.

The access controlled four lane highway forms part of the larger Nagpur Vijayawada Economic Corridor project under the Bharatmala Pariyojana Phase I and is envisaged to significantly reduce travel time between Nagpur and Vijayawada and improve the efficiency of freight movement.

Krishnamurthy & Co. (KLaw) advised Karnataka Bank Limited and Indian Bank as the lenders’ legal counsel. KLaw structured the financing transaction and was engaged in drafting, negotiating, and finalising the all the financing and security documents for the project financing transaction. KLaw has also been involved in liaising with the National Highways Authority of India in connection with various legal and regulatory issues in connection with the closing of the financing for the construction of the access controlled four lane highway.

The transaction was led by Partner, Zeeshan Khan and assisted by Anirban Roy Choudhury (Senior Associate and Priyanshi Jain (Associate).