COFIDES, as fund manager for FIEX, has extended a 25 million euro joint-venture loan to the ISOLUX-CORSAN Group for the expansion to six lanes of the Panipat–Jalandhar section of National Highway 1 (NH1) in India.

In 2008, the ISOLUX-CORSAN led consortium awarded the concession rights to build, operate and maintain for 15 years the Panipat to Jalandhar Section of NH1. The consortium is made up of the Spanish Group ISOLUX CORSAN (61%) and the Indian company Soma Enterprise (39%).

The project consists of increasing the capacity of the Panipat–Jalandhar section of NH1 to six lanes (3 lanes in each direction). With a total length of 291 km, the project starts from km 96.0 in Panipat (state of Haryana) and ends at km 387.1 in Jalandhar (state of Punjab). Not only does the project scope consists of widening the existing four-lane road to six lanes, but also it involves the construction of service roads, underpasses, minor and major bridges.

The Panipat to Jalandhar Section of NH1 is part of the Indian North-South corridor. The NH1 runs from Delhi to Pakistan. The Project aims to promote sustainable economic development in India by developing a more efficient transport system. The project corridor passes through some of the most important agricultural and industrial hubs of India. Thus, the project will enhance the competitiveness of the regions’ economies and create more than 600 direct jobs. The project will also allow Spanish and Indian sponsors to exchange technical and operational skills, which will improve the efficiency in construction and management of the road.

The ISOLUX CORSAN Group is a leading Spanish group involved in construction and infrastructure concession. In addition to its strong presence in Spain, with projects nationwide, the group has a strong international presence extending to more than 30 countries in five continents.