IRB Infrastructure Developers’ wholly-owned subsidiary - Yedeshi Aurangabad Tollway, has achieved financial closure in terms of the Concession Agreement executed with NHAI, by tying up of Project finance of Rs 1,756 crore.
The total cost of this project is Rs 3,177 crore, out of which Viability Gap Funding from NHAI will be Rs 558 crore, equity contribution by the company will be approximately Rs 863 crore and remaining will be funded through Project finance of Rs 1,756 crore. The average cost of debt of this Project finance is approximately 11.75% per annum. The concession period for the project is 26 years.
A consortium of lenders comprising of IDBI Bank - Lead Institution, India Infrastructure Finance Company (IIFCL), IDFC, Indian Overseas Bank, Union Bank of India and Andhra Bank have financed this project.
IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.
