Budget should focus on corporate bond market: IRB Infra

IRB Infrastructure is seeing financial closure in its wholly owned arm, Tumkur Chitradurga Tollway Pvt Ltd in terms of the Concession Agreement executed with NHAI, by tying up of debt of Rs 831 crore.

The total cost of this project is Rs 1142 crore, of which equity contribution by the company will be approximately Rs 311 crore. With this, the company has completed financial closure for all projects awarded to the company by NHAI and has no pending financial closure on any projects. VD Mhaiskar, the CMD of IRB Infrastructure, in an interview on CNBC-TV18 spoke said that they are starting to see some movement from the NHAI in awarding financial bids.