{"id":11301,"date":"2018-02-14T07:53:39","date_gmt":"2018-02-14T07:53:39","guid":{"rendered":"http:\/\/www.irb.co.in\/home\/?p=11301"},"modified":"2018-02-15T05:01:31","modified_gmt":"2018-02-15T05:01:31","slug":"irb-infras-spv-achieves-financial-closure-for-its-project-of-6-laning-of-90-kms","status":"publish","type":"post","link":"https:\/\/www.irb.co.in\/home\/2018\/02\/14\/irb-infras-spv-achieves-financial-closure-for-its-project-of-6-laning-of-90-kms\/","title":{"rendered":"IRB Infra\u2019s SPV achieves Financial Closure for its project of 6 laning of 90 Kms on Kishangarh &#8211; Gulabpura stretch of NH-79"},"content":{"rendered":"<ul>\n<li><strong>Ties up finances for Rs. 1,020 Crores at the cost of 10.20 % p.a. from the Consortium of lenders led by State Bank of India<\/strong><strong><br \/>\n<\/strong><\/li>\n<\/ul>\n<ul>\n<li><strong>Company to commence Construction and Tolling soon <\/strong><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Mumbai, February 14, 2018: <\/strong>KG Tollway Pvt. Ltd., a Special Purpose Vehicle (SPV) of India\u2019s leading and one of the largest Highways Infrastructure developers, IRB Infrastructure Developers Ltd., has successfully achieved Financial Closure for its Rs.1,526 Crores BOT project of 6 laning of NH-79, Kishangarh \u2013 Gulabpura stretch.<\/p>\n<p style=\"text-align: justify;\">Rs 1,020 crores have been tied up at a cost of 10.20% p.a., with consortium of lenders led by State Bank of India, along with Yes Bank Limited, Bank of Maharashtra and IFCI Limited. IRB Infra will support the balance funding of Rs.506 Crores through equity in the project.<\/p>\n<p style=\"text-align: justify;\">Mr. Virendra D. Mhaiskar, Chairman &amp; Managing Director, while commenting on the development said, <strong><em>\u201cThis is the third consecutive financial closure in FY18. It validates lenders\u2019 trust in project merits and IRB\u2019s domain expertise and execution capabilities demonstrated over last 20 years. We are grateful to our lenders for the trust shown and financing the project.\u201d <\/em><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><strong>The highlights of the Project and Financial Closure: <\/strong><\/p>\n<ul>\n<li style=\"text-align: justify;\">Project involves 6 Laning of 90 Kms stretch on NH-79 between Kishangarh and Gulabpura in Rajasthan.<\/li>\n<li style=\"text-align: justify;\">NH 79 connects Ajmer to Ghat Bilod, traversing through major settlement stretches such as Nasirabad, Gulabpura, Bhilwara, Chittorgarh, Mangalwara and finally Udaipur.<\/li>\n<li style=\"text-align: justify;\">The project concession will be for 20 years and the tolling and construction will be commenced from the Appointed Date.<\/li>\n<li style=\"text-align: justify;\">Project entails annual premium payment of Rs.186.30 Crores to NHAI; payment of which would commence after three years from the appointed date. Thus there is no payment outgo on account of premium in the initial three years.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">Out of the three projects bagged in Rajasthan, the construction and tolling has been started on Udaipur-Gujarat border project as well as Chittorgarh-Gulabpura project. With Kishangarh-Gulabpura project achieving Financial Closure as well, the Company will shortly start construction as well as tolling activity from the appointed date.<\/p>\n<p>&nbsp;<\/p>\n<p><strong><u>About IRB Infrastructure Developers Ltd:<\/u><\/strong><\/p>\n<p style=\"text-align: justify;\">IRB Infrastructure Developers Ltd (IRB) is one of the largest private roads and highways infrastructure developers in India.<\/p>\n<p style=\"text-align: justify;\">The Company at present is having 6 projects under operational BOT space; 3 projects under Tolling &amp; Construction, 7 projects under O &amp; M contracts as a Project Manager for IRB InvIT and another 4 projects under various stages of construction.<\/p>\n<p style=\"text-align: justify;\">IRB Group, in the 20<sup>th<\/sup> year of its journey towards excellence since inception, has achieved an unmatchable milestone of crossing 12,000 lane Kms, along with almost 20% share in India\u2019s prestigious Golden Quadrilateral project; which is the largest by any private highways infrastructure developers in India.<\/p>\n<p style=\"text-align: justify;\">Company\u2019s construction order book as on 31<sup>st<\/sup> December 2017 stands at Rs.7,400 Crores.<\/p>\n<p style=\"text-align: justify;\">IRB Infrastructure Developers Ltd. is India\u2019s first Infrastructure developer Company to have privilege of successfully launching and listing of India\u2019s first ever InvIT IPO and also transferring 7 projects under the same. The Company was recently conferred on the prestigious <em>\u2018FinanceAsia \u2013 Best India Deal &#8211; Achievement Award 2017<\/em>\u2019 at Hong Kong.<\/p>\n<p><strong>\u00a0For further details, please contact:<\/strong><\/p>\n<ul>\n<li><strong>Vivek Devasthali,<\/strong> Head \u2013 Corporate Communications, 99300 80099, <a href=\"mailto:vivek.devasthali@irb.co.in\">devasthali@irb.co.in<\/a><\/li>\n<\/ul>\n<ul>\n<li><strong>Shahab Shaikh,<\/strong> Concept PR, 93208 97525, <a href=\"mailto:shahab@conceptpr.com\">shahab@conceptpr.com<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Ties up finances for Rs. 1,020 Crores at the cost of 10.20 % p.a. from the Consortium of lenders led by State Bank of India Company to commence Construction and Tolling soon Mumbai, February 14, 2018: KG Tollway Pvt. Ltd., a Special Purpose Vehicle (SPV) of India\u2019s leading and one of the largest Highways Infrastructure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-11301","post","type-post","status-publish","format-standard","hentry","category-media-release"],"_links":{"self":[{"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/posts\/11301"}],"collection":[{"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/comments?post=11301"}],"version-history":[{"count":1,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/posts\/11301\/revisions"}],"predecessor-version":[{"id":11302,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/posts\/11301\/revisions\/11302"}],"wp:attachment":[{"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/media?parent=11301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/categories?post=11301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.irb.co.in\/home\/wp-json\/wp\/v2\/tags?post=11301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}