IDFC gets Rs 500 crore RIB funds

Our Bureau

Chennai, Nov 12: The Infrastructure Development Finance Corporation (IDFC) has obtained Rs 500 crore from the Resurgent India Bond (RIB) collection. The fund, obtained through the State Bank of India, will be used for funding infrastructure projects.

According to IDFC joint managing director Nasser Munjee, the funds will be deployed mainly to water and power projects. In Tamil Nadu the IDFC has already provided guarantees to the 330 MW Pillaiperumalnallur project promoted by Apollo Hospitals group.

The IDFC is also considering extending support to the 1050 MW north Madras thermal power project of Videocon International. A decision to this effect will is expected at the corporation's board meeting next month.

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