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Urban Development | March 29, 2013
#32942

Banks lend Rs15 bn to IL&FS arm for metro project

Recently, a consortium of banks provided Rs 1,500 crore loan to IL&FS Transportation Networks for executing the Rapid MetroRail Gurgaon South Extension project in Haryana.

   

This information was given by IL&FS Transportation Networks in a communication to stock exchange. However, the consortium of banks is not known.

   

Haryana Urban Development Authority awarded the metro rail project to a consortium of IL&FS Transportation Networks and its subsidiary IL&FS Rail for developing the 6.5 km rail Metro Link Extention from Sikanderpur Station to Sector 56, Gurgaon ("Project") on a DBFOT (Design, Build, Finance, Operate and Transfer) basis.

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