WABAG Ltd has completed the financial closure for its Hybrid
Annuity Model project, received from the Bihar Urban
Infrastructure Development Corporation, officials said on
The city-based company had secured a Rs 1,187 crore
contract from the Bihar Urban Infrastructure Development
Corporation under the National Mission for Clean Ganga scheme
to develop 150 MLD capacity sewage treatment plants, along
with sewerage network of over 453 km, in the Digha and
Kankarbagh zones of Patna.
WABAG, as per the project, will execute engineering,
procurement and construction portion of the sewage treatment
plant under the hybrid annuity model over 24 months, followed
by operation and maintenance of 15 years.
The project comprises a design, build and operate model
and the engineering, procurement and construction portion of
the Hybrid Annuity Scope is to be funded through a mix of
grant from the National Mission for Clean Ganga, equity and
About 40 per cent would be funded by NMCG grant in
construction phase and 60 per cent through a mix of debt and
To meet the project debt funding requirement, WABAG has
partnered with infrastructure finance company PTC India
Financial Services (PFS).
"It is yet another proud moment for WABAG to achieve
financial closure of second HAM project in succession under
the current context in the country.
We are happy to have PFS as our partner for financing the
debt portion of this project", WABAG, Head-Capital Projects,
Director, S Varadarajan.
"We are happy to start this long term partnership with
PFS, a leading financial institution in the infrastructure
With this, WABAG has successfully achieved the financial
closure of its second HAM project within this financial year",
PTC India Financial Services Ltd, MD, Pawan Singh said,
"PFS, with this debt funding to the STP project of VA Tech
WABAG re-affirms its commitment to support upcoming
environment friendly green infrastructure projects in the
country". PTI VIJ APR