IRB Infra seals ₹2,043-cr road project financing deal
IRB Infrastructure Developers, through its wholly-owned subsidiary VK-1 Expressways, a special purpose vehicle (SPV), has received an appointed date from NHAI for construction of 23.740 km long Padra (Kim) – Vadodara project on HAM. The ₹2,043 crore mega project is part of the upcoming Vadodara – Mumbai Expressway, and the company is set to start construction work. As a part of the financial closure, the SPV will receive financial support of ₹817 crore from NHAI; equity support of ₹245 crore from IRB Infra, and project financing of ₹981 crore from lenders. The concession period for the project comprises 730 days for construction and commands operations & maintenance rights of 15 years thereafter, said an official spokesperson.
📅Published on:
19 January 2019
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