GMR Visakhapatnam International Airport Limited has secured funds worth Rs 32.15 billion for the development of the Bhogapuram greenfield international airport project (Vizianagaram). India Infrastructure Finance Company Limited is the leading lender among the five banks providing the loan for a period of 18 years. The concession provision of Rs 1.34 billion is likely to be reimbursed by Andhra Pradesh Airports Development Corporation Limited and the remaining amount will be funded through equity, compulsory convertible debenture or subdebt.
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