State-owned IIFCL plans to raise $500 million (around Rs 2,500 crore) through commercial papers-- a debt instrument-- to finance infrastructure projects, a senior official of the company today said.

"We plan to raise $500 million through Medium Term Note route for various infrastructure projects." IIFCL Senior Vice President R Rajagopalan said on the sidelines of a IBA seminar here.

Also Read   Related Stories News Now - OMCs turn to CPs, debentures as credit needs rise - India's Financial Sector in Current Times - Manappuram Finance to raise Rs 400 cr - World Bank approves $4.3-bn loan to India - FM assures continued support to banks - Banks continue to refinance CDs as rates remain low

Also Read   Related Stories News Now - Markets end on a strong note - Axis Bank ties up with Bahrain's bank for remittance - Airtel rating unaffected by Qualcomm deal: Fitch - Lanco may exit road segment to focus on power generation - Ranbaxy gets US nod for acne treatment More

Since 2006, IIFCL has sanctioned 113 projects valued at $32 billion to different developers in the country, he said.

"We have sanctioned around 113 projects at $32 billion to different developers in the country. All infrastructure projects works are underway," Rajagopalan said.

These projects include roads (52), sea ports (5), power (18), urban infrastructure(1), airports(2) and urban development projects (19) amongst others.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Markets end on a strong note - Axis Bank ties up with Bahrain's bank for remittance - Airtel rating unaffected by Qualcomm deal: Fitch - Lanco may exit road segment to focus on power generation - Ranbaxy gets US nod for acne treatment

Tags : IIFCL | commercial papers | fund raising   Read Business news in  Advertisements -  Journey on, We are by Your Side. Click here to know more -  2 Lac Apartments, 1 Lac House / Plots. Click here -  Help a Child Achieve her. Click to know more -  Benefits Upto Rs. 2.36 Lakhs on the Fully Loaded TJet Petrol. -  The Best Seller is Also the No. 1 in Mileage. Click here -  Watch The Film Here. Click here to know more.. -  Leader in Passenger Car & Automobile Tyres. Click here -  1 billion in saving for Unilever without any tangles. -  A Brand New Server at a Price That Fits Your Budget. Click here -  Learn How One City is Running on FOOD SCRAPS. -  One Partnership Endless Possibilities. Click here to know more -  Helping doctors detect diseases earlier, saving costs & extending lives. -  36 Lakhs can get you a pool of Luxuries. Click here -  Which is the best plan for your daughter -  Check out the TRUE COLOURS of your Stocks, Now for FREE! -  One of the leading business schools in the world.Know More