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Construction : Deals | October 2014 | Source : Construction Update

Infrastructure firm IVRCL to sell BOT Projects to Pare Debt

IVRCL plans to monetize assets worth Rs 40 billion to reduce its debt. The company, is selling its Chennai seawater desalination plant and the Jalandhar-Amritsar road project as part of a second round of asset sales to trim debt. IRVCL which posted a loss of Rs 7170 million last fiscal had received a CDR package of Rs 73 billion and is further eligible for Rs 1750 million for meeting working capital requirements and bank guarantees worth Rs 14 billion.
 
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