Gurgoan metro misses financial closure deadline
Rapid MetroRail Gurgaon Ltd, the joint venture between the largest real estate company DLF and Infrastructure Leasing & Financial Services Ltd (IL&FS) failed to achieve financial closure for its Gurgaon metro rail link project by November 30 deadline. The metro project is currently a 26:74 partnership between DLF and IL&FS.
We will need some more time to achieve financial closure. It will probably be done by March next year, a senior official of Rapid MetroRail Gurgaon Ltd said.
However, financial closure is not the only stumbling block for this project, which is awaiting approval from the Centre for a detailed project report analysis. Sources in the urban development ministry said the Haryana government has already signed the concession agreement.
More : financialexpress.com