IRB Infra ties-up Rs 775 crore for road projects

IRB Infrastructure Developers has tied-up Rs 775 crore loan and with that has completed all financial transactions for its road projects. Two of the company’s subsidiaries - IRB Talegaon Amravati Tollway and IRB Goa Tollway have achieved financial closure for the projects awarded to it by the NHAI, with the tying—up of debt of Rs 475 crore and Rs 300 crore respectively.

A consortium of lenders comprising of Infrastructure Development Finance Company Ltd (IDFC), Canara Bank, Bank of Baroda and Union Bank of India has financed these projects. IDFC has financed Rs 380 crore in aggregate for these two projects while remaining part has been financed by other banks of the consortium.