Infrastructure News

Rs 1500cr sanctioned for infrastructure development in Gurugram, ET Infra

GURUGRAM: Haryana Cabinet on Tuesday approved the Enhancement of Working Limits of Rs 1500 crore of Haryana State Industrial & Infrastructure Development Corporation Ltd. (HSIIDC) for infrastructure development mainly at Global City at Gurugram and IMT, Sohna besides land development at other locations of Industrial Estates of HSIIDC in the State.

The enhancement of the Working Capital Limit, totalling Rs 1500 crore, is earmarked for infrastructure development. The interest rate is linked to T-bill rates, ensuring a competitive and market-aligned financing structure.

The Finance Department, Haryana, has provided its concurrence with certain terms and conditions, including a 2 per cent guarantee fee on the sanctioned credit limit, timely repayment obligations, and strict adherence to the purpose of fund utilisation.

The approval of the Working Capital Limit enhancement is a significant step towards realizing the vision of a developed and progressive Haryana.

  • Published On Jan 31, 2024 at 01:03 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Get updates on your preferred social platform

Follow us for the latest news, insider access to events and more.

Source link