IRB Infrastructure Developers’ wholly-owned subsidiary -- AE Tollway -- has achieved financial closure in terms of the Concession Agreement executed with NHAI, by tying up of Project finance of Rs 1,650 crore. The total cost of this project is Rs 2,523 crore out of which equity contribution by the company will be Rs 873 crore and remaining will be funded through Project finance of Rs 1,650 crore. The average cost of debt of this Project finance is around 11.25% p.a.
A Consortium of Lenders comprising of IDBI Bank- Lead Institution, India Infrastructure Finance Company (IIFCL), Bank of India, Bank of Maharashtra, UCO Bank, Andhra Bank and Punjab National Bank have financed this project.
