IRB Infra Ties Up 831-cr Loan for Road Project

IRB Infrastructure Developers will raise a debt of 831 crore from a consortium of financiers led by Infrastructure Development Finance Company (IDFC) for the financial closure of its highway project in Karnataka.

The infrastructure developer is executing National Highways Authority of India’s (NHAI) six-lane highway project connecting Tumkur and Chitradurga in Karnataka at a total cost of 1,142 crore. The equity investment of 311 crore in the project would be through company’s internal accruals. With the financial closure of this project the company has achieved financial closure for all the projects awarded to it by NHAI and there is no project pending financial closure.crackcrack