19th Jun 2019 13:40
(Alliance News) - Infrastructure India PLC on Wednesday said it has drawn down another USD20 million under its IIP Bridge Facility LLC loan in order to progress construction at the Anekal and Palwal terminals.
Following the drawdown, USD50 million of the USD105 million loan remains available for use by the company's Distribution Logistics Infrastructure Pvt Ltd unit, which is building the terminals.
The latest USD20 million drawdown will also help meet ongoing debt service and operational overheads.
The Indian infrastructure investor said the terminal at Nagpur has ramped up construction and engineering is underway at its Chennai terminal.
Distribution Logistics Infrastructure is Infrastructure India's largest asset in its portfolio and one of the biggest privately owned logistics businesses in the country.
Shares in Infrastructure India were untraded Wednesday afternoon, last quoted at 2.30 pence.
Related Shares:
IIP.L