19th Dec 2019 09:59
(Alliance News) - Infrastructure India PLC said Wednesday it has drawn down the final USD30 million under its USD105 million facility with IIP Bridge Facility LLC.
The funds will go towards progressing construction at Distribution Logistics Infrastructure Private Ltd's terminals, and to meet ongoing debt and operational overheads.
Following this, the facility is now fully drawn down.
Distribution Logistics Infrastructure is a supply chain transportation and container infrastructure company
The works at Nagpur, India, which includes a private freight terminal and additional warehousing is set to be completed before the end of 2019.
Meanwhile, the terminals at Bangalore, Palwal and Chennai are all expected to be finished later in 2020, due to regulatory approvals required for the facility at Cheenai.
Shares in Infrastructure India - which is headquartered in the Isle of Man - were untraded on Thursday, last quoted at 2.20 pence.
By Dayo Laniyan; [email protected]
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