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(Alliance News) - Infrastructure India PLC said on Wednesday it has drawn down further funds to press on with construction work at four port terminals.
Infrastructure India has taken a further USD20 million of a facility with IIP Bridge Facility LLC, which it first announced in April. There is now USD30 million left, with the firm having drawn down USD75 million so far.
"The funds drawn down will be utilised primarily to progress construction at Distribution Logistics Infrastructure Private Ltd's terminals and to meet ongoing DLI debt service and operational overheads. Construction at each of the four terminals continues largely on schedule and within budget," said Infrastructure India.
Shares were untraded at the close in London on Wednesday, last quoted at 1.65 pence each.
By George Collard; georgecollard@alliancenews.com
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