Piramal Enterprises and Bain Capital Credit-promoted India Resurgence Fund on Monday announced an investment of $75 million (Rs 555 crore) in Thrissur Expressway Limited, a part of Hyderabad based KMC Constructions Limited.
IRF, which has investments from global investors, will utilise the funding for restructuring TEL’s existing debt and for last-mile financing to enable project completion.
“On completion, the project will significantly improve connectivity between key South Indian states namely, Kerala and Tamil Nadu and will create significant efficiency and savings for both commercial and passenger traffic. IndiaRF has the capital and the expertise to invest in similar opportunities that will provide effective solutions that address bottlenecks in infrastructure projects of national interest, resolve issues in the capital structure of such projects,
