CG Tollway, an SPV of IRB Infrastructure Developers, has reportedly achieved financial closure for its Rajasthan highway project of Rs 2,090 crore.
CG Tollway had tied-up with lenders including Canara Bank, Indian Overseas Bank, Bank of India, Aditya Birla Finance, Andhra Bank and the consortium was led by State Bank of India for the BOT project of six-laning of NH-79, Chittorgarh-Gulabpura Bypass.
According to reports, IRB Infrastructure will be infusing contribution of sponsors, which include internal accruals of around Rs 690 crore for the funding of the highway project. The remaining funds will be through project financing of Rs 1,400 crore at a cost of 10.25 per cent annually.
The company has bagged three projects in the last financial year and this project is the second it has closed within the last few months. NH-79 connects Ajmer and Ghat Bilod, travelling through Gulabpura, Bhilwara, Chittorgarh, Nasirabad and Udaipur.
