Financial closure for IRB’s 2 highway projects
IRB Infrastructure Developers has achieved financial closure amounting to an aggregate of Rs 1,824 crore for two of its highway projects in Punjab and Rajasthan.business Updated: Mar 23, 2010 21:09 IST
IRB Infrastructure Developers, a leading toll road operator in India and integrated infrastructure development and construction company, has achieved financial closure amounting to an aggregate of Rs 1,824 crore for two of its highway projects in Punjab and Rajasthan.
The company tied up with banks and financial institutions to fund Rs 924 crore for the construction of highway of around 106 km between Pathankot and Amritsar. The company tied up with financial institutions to fund Rs 900 crore for the construction of highway of 144 km for its Jaipur to Deoli project.
Both the projects have a construction period of 910 days. While the concession period for the Punjab project is 20 years, it is 25 years for the Rajasthan project.
“Our track record of timely payments, successful and timely implementation of projects, helped us to raise the required finances for our projects on favourable terms in reasonable time,” said V.D. Mhaiskar, CMD, IRB Infrastructure Developers.