IRB achieves financial closure for two projects
IRB Infrastructure Developers Limited, one of the largest toll road operating companies in India, has achieved financial closure for its two highway projects —Pathankot-Amritsar highway and Jaipur-Deoli highway.
VD Mhaiskar, Chairman and Managing Director, IRB Infrastructure Developers, said: “Our track record of timely payments, successful and timely implementation of projects, helped us to raise the required finances for our projects on favourable terms in reasonable time.”
IRB Pathankot Amritsar Toll Road Pvt. Ltd, a wholly-owned subsidiary of IRB, has achieved financial closure for its Pathankot to Amritsar Highway Project which comprises of section of NH – 15 from Km. 6.082 to Km. 108.502 in the State of Punjab under NHDP Phase IIIB on the DBFOT pattern. The subsidiary company has tied up project funding of Rs924 crores from banks and financial institutions. The company said the construction period for this project would be 910 days. It will have concession period of 20 years.
IRB Jaipur Deoli Tollway Pvt. Ltd, another wholly-owned subsidiary of IRB, has also achieved financial closure for its Jaipur Deoli Highway Project which comprises of section of NH -12 from Km 18.700 to Km 165.000 in the State of Rajasthan under NHDP Phase III on BOT Basis. The project has been tied up for Rs900 crores funding and it will be constructed in 910 days. Its concession period would be 25 years, the company said.