L&T Infrastructure Development Projects (L&T IDPL) has secured a financial closure for two major road construction projects, which require a total investment of Rs45bn ($828m), in the state of Maharashtra.

The schemes have received funds of Rs34bn ($626m) from a consortium led by ICICI Bank, and are expected to be completed in one-and-a-half years.

The turnkey engineering procurement construction (EPC) contracts were awarded to L&T by the National Highways Authority of India (NHAI) in June 2012.

The projects include the development of contiguous stretches on National Highway 6 (NH-6) from Amravati to Jalgaon in Maharashtra and Jalgaon to the Gujarat-Maharashtra border.

The total length of the two projects is 484km with a concession period of 19 years and 20 years respectively, including the construction period.

"The total length of the two projects is 484km with a concession period of 19 years and 20 years respectively."

According to the Indian infrastructure company, these projects, which are awarded on a design, build, finance, operate, transfer (DBFOT) basis, are two of the longest road projects in the country.

NHAI estimates that the Amravati-Jalgaon stretch will cost Rs25.37bn ($468m), and the Jalgaon to Gujarat-Maharashtra border road will cost around Rs19.68bn ($363m).

The two road projects are part of the East-West connector, which links centres of economic activity in Maharashtra and Gujarat states in the western part of the country to the states of Orissa and Chattishgarh in eastern part.

L&T IDPL currently has a project portfolio of nearly 9,200km, which is worth INR2.2trn ($40.5bn) and includes some of the most economically significant and high-traffic corridors, linking key industrial towns in the country.