IRB’s VM7 Expressway achieves financial closure

The VM7 Expressway, a wholly owned subsidiary and a special purpose vehicle (SPV) of IRB Infrastructure Developers Limited, has achieved financial closure for the Gandeva-Ena project in Gujarat. The project involves eight-laning of the 27.5 km Gandeva-Ena section of the Vadodara-Mumbai expressway on the hybrid annuity model under Phase I of the Bharatmala Pariyojana (Package VII). Post VM7 Expressway, the company does not have any financial closure pending in its portfolio.