New Delhi: Dilip Buildcon on Friday announced incorporation of five new special purpose vehicles (SPVs) for projects worth Rs6,306.9 crore awarded by National Highways Authority of India (NHAI).

“The company has incorporated five new SPVs to undertake the new HAM (Hybrid Annuity Mode) projects", the company said in a filing to BSE.

The SPV firms are DBL Nidagatta Mysore Highways, DBL Gorhar Khalrahrnda Highways, DBL Mangloor Highways , DBL Borgaon Watambare Highways and DBL Mangalwedha Solapur Highways, the filing said.

The company had said last month it bagged two projects worth Rs4,473 crore to be constructed under hybrid annuity mode. Under HAM, the government commits up to 40% of a project cost and hands it over to the developer, who has to fund the balance 60% with debt and equity.

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