IRFC Refinances DFCCIL World Bank Loan With Rs 98.21bn
ECONOMY & POLICY

IRFC Refinances DFCCIL World Bank Loan With Rs 98.21bn

Indian Railway Finance Corporation (IRFC) has extended a Rs 98.21 billion loan to the Dedicated Freight Corridor Corporation of India Limited (DFCCIL) to refinance its foreign currency debt availed from the World Bank for the Eastern Dedicated Freight Corridor project.

The rupee term loan agreement was formally signed between Rahul Kapoor, Director (Finance), DFCCIL, and Deepa Kotnis, Executive Director (Finance), IRFC. The agreement was executed at the Railway Board in New Delhi in the presence of Railway Board Chairman and CEO Satish Kumar, along with senior officials from IRFC and DFCCIL, IRFC said in a statement.

According to IRFC, the transaction marks a significant milestone in India’s infrastructure financing landscape, highlighting the growing depth, maturity and capability of domestic financial institutions to fund large-scale, long-gestation infrastructure projects through local currency solutions.

Officials said the refinancing covers existing World Bank loans and will allow DFCCIL to shift from foreign currency borrowing to rupee-denominated financing. This is expected to reduce exposure to exchange rate volatility, improve financial stability and lower long-term funding risks for the strategic freight corridor project.

Indian Railway Finance Corporation (IRFC) has extended a Rs 98.21 billion loan to the Dedicated Freight Corridor Corporation of India Limited (DFCCIL) to refinance its foreign currency debt availed from the World Bank for the Eastern Dedicated Freight Corridor project. The rupee term loan agreement was formally signed between Rahul Kapoor, Director (Finance), DFCCIL, and Deepa Kotnis, Executive Director (Finance), IRFC. The agreement was executed at the Railway Board in New Delhi in the presence of Railway Board Chairman and CEO Satish Kumar, along with senior officials from IRFC and DFCCIL, IRFC said in a statement. According to IRFC, the transaction marks a significant milestone in India’s infrastructure financing landscape, highlighting the growing depth, maturity and capability of domestic financial institutions to fund large-scale, long-gestation infrastructure projects through local currency solutions. Officials said the refinancing covers existing World Bank loans and will allow DFCCIL to shift from foreign currency borrowing to rupee-denominated financing. This is expected to reduce exposure to exchange rate volatility, improve financial stability and lower long-term funding risks for the strategic freight corridor project.

Related Stories

Gold Stories

Next Story
Real Estate

L&T Wins Mega Order for India’s Largest NVIDIA B300 AI Factory

Larsen & Toubro (L&T), through Vyoma.AI’s AI infrastructure subsidiary LTN Compute, has secured a mega order to develop what the company describes as India’s largest single-cluster AI infrastructure facility. The NVIDIA B300 AI Factory will support US-based AI cloud company Together AI’s platform for large-scale inference, fine-tuning and training workloads.The integrated AI Factory will be hosted at Vyoma.AI’s Chennai data centre campus and will have a capacity of 10,000 NVIDIA B300 GPUs. The platform will combine hyperscale data centre infrastructure, accelerated computing, h..

Next Story
Infrastructure Urban

Autodesk Elevates Nikhil Bagalkotkar to Lead AEC in India, SAARC

Autodesk has elevated Nikhil Bagalkotkar as Head – Architecture, Engineering and Construction (AEC), India and SAARC, with immediate effect.In his new role, Bagalkotkar will lead Autodesk's AEC business strategy across the region and drive adoption of the company's Design and Make platform. He will also focus on promoting digital design and construction technologies to help customers accelerate innovation and deliver more sustainable and resilient infrastructure.Bagalkotkar will be responsible for expanding Autodesk's AEC business, strengthening customer and partner engagement, and accelerat..

Next Story
Real Estate

Listed Developers' Pre-Sales Seen Rising 22.3 Per Cent in FY27

India's leading listed residential developers are expected to sustain strong sales momentum in FY27, with combined pre-sales of 11 major players projected to rise 22.3 per cent year-on-year, according to an analysis by ANAROCK Research & Advisory.Combined pre-sales of the developers are estimated to increase from Rs 1.49 trillion in FY26 to Rs 1.82 lakh crore in FY27. ANAROCK attributed the growth to sustained end-user demand, new project launches and strong execution despite higher property prices, construction costs and global uncertainties.Dr Prashant Thakur, Executive Director and Head..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement