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Web Exclusive | August 2018

Rs 12.58 billion IFL for three fertilizer projects

Three fertilizer projects of Hindustan Urvarak and Rasayan (HURL) were approved an Interest Free Loan (IFL) worth Rs 12.58 billion by the union cabinet. In the first three years of construction, the IFL will be disbursed and the repayment will be spread over 11 years with a moratorium of three years of disbursement period during construction. The government further stated that the IFL shall cover only the interest accrued during the scheduled period of construction and any escalation due to time or cost overrun will be borne by the Joint Venture (JV) Company
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