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IRB INFRASTRUCTURE DEVELOPERS LTD. - Updates
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28 Jul 2015
IRB Infrastructure Developers Ltd has informed BSE that Kaithal Tollway Pvt. Ltd. - wholly-owned Subsidiary of the Company, has achieved financial closure in terms of the Concession Agreement executed with NHAI, by tying up of Project finance of Rs. 1,400 Crore.&lt;BR&gt;&lt;BR&gt;The total cost of this project is Rs. 2290 Crore, out of which Viability Gap Funding from NHAI will be Rs. 234 crores, equity contribution by the Company will be approx. Rs. 656 Crore and remaining will be funded through Project finance of Rs. 1,400 Crore. The average cost of debt of this Project finance is approx. 11.75% p.a. The concession period for the project is 27 years.&lt;BR&gt;&lt;BR&gt;A Consortium of Lenders comprising of IDBI Bank Limited - Lead Institution, India Infrastructure Finance Company Ltd. (IIFCL), IDFC Limited, Indian Overseas Bank, Union Bank of India, Bank of Baroda, Canara Bank and Bank of Maharashtra have financed this project.
View all announcements for IRB INFRASTRUCTURE DEVELOPERS LTD. Source: BSE India