DIAL ties up Rs 4,940 cr loan from 12 banks

NEW DELHI: GMR-led Delhi International
Airport Ltd on Friday said it have secured a Rs 4,940 crore loan to modernise
the national capital's airport, a development that volition soon assist addition the
passenger comfortableness quotient. The public-private partnership
initiative, mandated to modernise the Capital's Indira Indira Gandhi International
Airport, said that it signed cardinal funding written documents with its undertaking lenders
for Rs 3,650 crore and foreign currency loan of USD 350 million to fund the
project. The sum working capital outgo programme of the first phase
till 2010 is estimated at about Rs 8,900 crore. This is expected to be funded by
debt and equity in the ratio of 1.25:1, dial Head Financial Military Officer Shirish
Navlekar said. The Sri Lanka rupee constituent of the debt amounting to Rs 3,650
crore have been raised for 17 twelvemonth term of office at a charge per unit of 10.50 per cent and
external commercial adoptions constituent of USD 350 million have been raised with
a 13 twelvemonth period. The trade have been syndicated by ICICI Depository Financial Institution Ltd. The assorted Banks that have got extended loan to dial include Canara
Bank (Rs.600 crore), IIFCL (Rs 500 crore), Union Depository Financial Institution of Republic Of Republic Of Republic Of India (Rs 500 crore),
Oriental Depository Financial Institution of Commerce (Rs.400 crore), Central Depository Financial Institution of India (Rs 400 crore),
Andhra Depository Financial Institution (Rs 250 crore), Vijaya Depository Financial Institution (Rs 250 crore), IDFC (Rs 250 crore),
Bank of India (Rs 250 crore) and PNB (Rs 250 crore). The company said out
of the USD 350 million foreign currency loan, USD 200 million have been financed
by ICICI Bank, Capital Of Singapore and another USD 150 million by Abu Dhabi Commercial
Bank. dial is currently implementing the Maestro Plan for the
development of a new airdrome complex. Work on the incorporate rider terminal
and runway commenced in February 2007 and the new terminus would be inaugurated in
2010 before the Commonwealth Games