IRB Infra achieves financial closure for Rs 6538 cr Ganga Expressway project
Capital MarketIRB Infrastructure Developers announced that Meerut Budaun Expressway, wholly-owned subsidiary of the company (SPV), has achieved financial closure for the Project of development of Access Controlled Six Lane (Expandable to Eight Lane) Greenfield 'Ganga Expressway' [Group-I, from Km. 7+900 (Village: Bijoli, Distt: Meerut) to Km. 137+600, (Village: Nagla Barah, Distt: Budaun), Design length 129.700 Km] in the State of Uttar Pradesh on DBFOT (Toll) basis under PPP.
Project Cost - Rs 6538 crore
Viability gap funding - Rs 1746 crore
Means of finance - Total Senior Debt of Rs. 2,659 crore has been tied up with the Senior Lender, and with necessary approvals, Equity contribution of Rs. 2,133 crore will be made by the Company and/ or its associate, i.e., IRB Infrastructure Trust.
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