HAM project at the bid price of f 1,045 crore. However, the company had not yet received a "'Letter of Award' from NHAI for this project.
While MBL transaction, too, is subject to necessary approvals from NHAI, WEL said it has the option to acquire the remaining 51 per cent stake in these projects as and when the NHAI permits.
As per the HAM model, the two projects WEL is entering will have 40 per cent financial support from NHAI, while the debt component of 48 per cent of the project cost with the balance funded by WEL as the sponsor (apart from MBL' equity). Bid project cost for both projects is Rs2,120 crore and the expected fund commitment from sponsors is Rs250 crore.
"WEL is in the process of completing documentations for financial closure and the appointed date is expected to be announced by NHAI by the end of the month," the company said in the regulatory filing, adding that the EPC contract of both projects will be executed by WEL.