GIC to invest Rs 10 bn in IRB Infra's Ganga Expressway project

21 Oct 2022 CW Team

On October 19, IRB Infrastructure Developers announced that Singapore-based GIC Affiliates will contribute Rs 10.45 billion in the Ganga Expressway project.

IRB Infra made the news on the same day that it completed the Rs 5.33 billion equity offering for the project. According to a press release by the corporation, GIC "provided Rs 2.61 billion and IRB Infra contributed Rs 2.71 billion."

IRB Infra, which is pioneering the project, will own 51 per cent of it, with GIC owning the remaining 49 per cent.

Both companies will invest an aggregate of Rs 21.33 billion in the project, the release further said.

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