The Hindu : Business : IIFC to raise Rs. 10,000 cr.

Online edition of India's National Newspaper
Thursday, Apr 20, 2006

Business

Business

IIFC to raise Rs. 10,000 cr.

Special Correspondent

NEW DELHI: The India Infrastructure Finance Company (IIFC), promoted by the government to provide long-term finance to infrastructure projects plans to raise up to Rs. 10,000 crore in debt in the current fiscal. This was disclosed here on Wednesday by the IIFC Chairman, S. S. Kohli, who said the funds would be raised through bonds and loans.

IIFCI has entered into an agreement with Infrastructure Leasing & Financial Services (IL&FS) to develop and finance 10,000 MW of power generation and transmission projects at a cost of Rs. 24,000 crore over the next three years. It would invest 20 per cent of the total amount required to develop eight power projects by taking equity and debt exposure. The initial projects identified are: a gas-based power generation and transmission project in Tripura, a gas-based and a coal-based power project in Andhra Pradesh and hydro power projects in Sikkim.

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