Simplex Infrastructure’s outstanding borrowings amount to Rs 3600 crore

KOLKATA: Simplex Infrastructure, which has built some of the landmark bridges and urban mass rapid transport system in key metros, has begun to default on bank loans as delay on payments by government agencies has led to a liquidity squeeze and subsequent cancellation of some large work orders.

The company’s outstanding borrowings from banks and financial institutions were around Rs 3600 crore at the end of January.