IRB Infra arm: financial closure for Rs 1,142 cr project

NEW DELHI: IRB Infrastructure on Friday said its arm has arranged funds of Rs 831 crore required to execute a Rs 1,142-crore project.

"With the financial closure of this project the company has achieved financial closure for all the projects awarded to it by National Highway Authority of India and there is no project pending financial closure," IRB infrastructure Developers Chairman and Managing Director V D Mhaiskar said in a statement.

The project of IRB Tumkur Chitradurga Tollway Pvt Ltd, the wholly-owned subsidiary of IRB Infrastructure, was financed by Housing Development Finance Corporation, IDBI and Bank of Baroda and led by Infrastructure Development Finance Company that contributed Rs 500 crore, the statement added.