India's Largest Database on New Projects
IL&FS to fund for Malaysian project
20 June 2011: Infrastructure Leasing and Financial Services (IL&FS) is to fund worth of $1.2 billion (approx Rs 5,460 crore) for a Malaysian free trade zone project, Tanjong Agas Supply and Marines Services near Kuala Lumpur.
IL&FS will be involved in project development as well. The project which covers 4,260 acres in the town of Pekan, will take three years of construction, to be completed in three phases. The project, has a total cost of around eight billion ringgit (approx. Rs 12,000 crore),which will develop facilities for upstream and downstream activities for the oil and gas industry, maritime development and logistics and the zone will also have shipyards, liquid-bulk terminal and dockyards. The finance company, recently set up an office in Dubai, will be arranging the loan from various international banks in West Asia, Europe and the Asia-Pacific region. The Malaysian government holds 30 per cent stake in the project through the Pahang State Development Corporation, Private entities hold 30 per cent and the rest of the 40 per cent stake will be held by management partners who set up shop in the free trade zone.
Source: Business Standard