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    IRB secures funds for Rs.1,526 cr road project

    IRB Infrastructure
    The wholly-owned subsidiary of IRB Infrastructure, Kishangarh Gulabpura Tollway Private Limited, has recently achieved financial closure for the road project by tying up finance worth Rs.1020 crore for a road project entailing a total cost of Rs.1,526 crore. Out of the total cost equity contribution and internal accrual by the Company will be Rs.506 crore and remaining portion will be funded through project finances. The average cost of debt for this project finance is approx. 10.20% per annum. A consortium of lenders comprising of State Bank of India-Lead Institution, Yes Bank Limited, Bank of Maharashtra and IFCI Limited have financed this project jointly. The project involves six laning of Kishangarh to Gulabpura Section of NH 79A and NH 79 in the state of Rajasthan with a length of 90.000 km on DBFOT (Toll) mode under NHDP Phase-V Package-l. The concession period of the project is 20 years including construction period of 910 days.
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