IRB ties up funds for highway projects

IRB Infrastructure Developers has achieved financial closure for two highway projects amounting to Rs 1,824 crore from a consortium of IDFC, Canara Bank, Bank of Baroda and Union Bank of India. The consortium is led by IDFC, which has committed Rs 1,100 crore.

IRB Pathankot Amritsar Toll Road had got a commitment for Rs 924 crore for its Pathankot-Amritsar highway project. Another subsidiary, IRB Jaipur Deoli Tollway also achieved financial closure for its Jaipur-Deoli highway project. For this, the company has been assured Rs 900 crore.