At average cost of 11.75% p.a.
IRB Infrastructure Developers announced that Solapur Yedeshi Tollway - 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. 910 crore.The total cost of this project is Rs. 1,492 crore, out of which viability gap funding from NHAI of Rs.189 crore, equity contribution by the Company will be approx. Rs. 393 crore and remaining will be funded through Project finance of Rs. 910 crore. The average cost of this Project finance is approx. 11.75% p.a.
A Consortium of Lenders comprising of IDBI Bank - Lead Institution, India Infrastructure Finance Company (IIFCL), Canara Bank, Union Bank of India, Corporation Bank and Indian Overseas Bank have financed this project.
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