HSA Advocates advises SBI and Export Import Bank as lenders’ legal counsel in relation to a 20-year structured facility of
Rs. 1200 crore to Konkan Railway
HSA Advocates advised State Bank of India and Export Import Bank of India, as lenders’ legal counsel in relation to a 20-year structured facility of Rs 1200 crore to Konkan Railway Corporation Limited for Roha-Veer track Doubling and Route Electrification projects.
HSA Advocates (HSA) acted as the lenders’ legal counsel for advising the lenders in relation to the financial assistance aggregating to an amount of Rs. 1200 crore provided by the lenders for financing the development of the projects by Konkan Railway Corporation Limited (KRCL) along the Konkan railway line. The estimated total project cost is Rs. 1510 Crores.
To boost the development of Konkan region, route electrification of Roha-Thokur section of the Konkan railway line including the HPCL and Nandikur siding of the section will be developed along with part doubling of broad gauge rail line from Roha to Veer station on the Konkan railway line under Ratnagiri region.
The HSA team was led by Anjan Dasgupta, Partner and included Avinash Khard, Associate Partner and Varsha Vasudevan, Senior Associate. K.K. Tiwari, Partner provided strategic inputs to the team.
KRCL’s remaining balance funds of rs 310 crores, that is required for the project, has been arranged by the Ministry of Railways. The project is expected to significantly impact the upliftment of the Konkan region, which is otherwise an underdeveloped region in India with regards to its rail connectivity and passenger amenities. The Konkan Railway, under the guidance of the Ministry of Railways, has recently undertaken several initiatives to better the client experience by providing more amenities for passengers and customer oriented services for freight users.