IRFC, IIFCL ink pact to strengthen cooperation in financing railway infra projects

12 Oct 2022 , 09:56 AM

The Indian Railway Finance Corporation Ltd. (IRFC) signed a Memorandum of Understanding (MoU) with the India Infrastructure Finance Company Ltd. (IIFCL) to strengthen cooperation in financing railway infrastructure projects with forward and backward links to the Indian Railways sector.

IRFC and IIFCL want to enhance each other’s strengths through this MoU, allowing them to jointly exploit funding options for feasible infrastructure projects.

The MoU will also allow IRFC and IIFCL, both leading and established financial institutions in their respective sectors, to scale up their capacities and jointly explore such funding prospects by combining their competence and knowledge.

The MoU will allow IRFC and IIFCL to benefit from each other’s expertise in infrastructure project finance, project due diligence, syndication, credit enhancement, and re-financing, among other things, highlighted the press release on Tuesday.

This MoU is only the beginning of a long-term relationship between these two institutions, and they hope to be a part of the transformation that the Indian economy is currently undergoing, led by the visionary leadership of the Hon’ble Prime Minister, and to help India achieve its goal of becoming a $5 trillion economy.

At around 9.59 AM, IRFC was trading at Rs21.45 up by 0.47% from its previous closing of Rs21.35 on the BSE. The scrip opened at Rs21.40 and touched intraday high and low of Rs21.50 and Rs21.40 respectively.

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