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ADB to Fund GR Infraprojects Limited to Expand Road Building Capacity in India

Infra News - Published on Wed, 14 Aug 2019

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The Asian Development Bank has signed an agreement to invest USD 23 million in Non-Convertible Debentures being issued by GR Infraprojects Limited to help the company rapidly scale up its construction of roads and highways in India through the purchase of new building equipment. This increased operational capacity will enhance GRIL’s ability to execute its existing orderbook and enable it to bid for more projects, thereby supporting the roads sector investment plans of the Government of India.

The agreement was signed by the Director General of ADB’s Private Sector Operations Department Mr Michael Barrow and GRIL Chairman and Managing Director Mr Vinod Kumar Agarwal at a ceremony in New Delhi.

Incorporated in 1995, GRIL is one of the leading engineering, procurement, and construction companies in India, focused purely on the roads and highways sector. It has grown rapidly, at a compounded annual growth rate of 44% over the last five years. It currently has an order book of $2.78 billion, which is to be executed over the next three years.

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Posted By : Mohan Sharma on Wed, 14 Aug 2019
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