IRB Infrastructure Developers’ wholly-owned subsidiary, Solapur Yedeshi Tollway, has tied up Rs 910 crore for the concession agreement signed with NHAI. The total expenditure of this project is Rs 1,492 crore.
The viability gap funding from NHAI is Rs 189 crore and the company’s equity contribution is Rs 393 crore.
A consortium of lenders has financed the project with IDBI Bank as the lead Institution, and the rest comprising India Infrastructure Finance Company, Canara Bank, Union Bank of India, Corporation Bank and Indian Overseas Bank. The average cost of funding is approximately 11.75 per cent.
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