Rs 1500cr sanctioned for infrastructure development in Gurugram

Gurugram: Haryana Cabinet on Tuesday approved the Enhancement of Working Limits of Rs 1500 crore of Haryana State Industrial & Infrastructure Development Corporation Ltd. (HSIIDC) for infrastructure development mainly at Global City at Gurugram and IMT, Sohna besides land development at other locations of Industrial Estates of HSIIDC in the State.

The enhancement of the Working Capital Limit, totalling Rs 1500 crore, is earmarked for infrastructure development. The interest rate is linked to T-bill rates, ensuring a competitive and market-aligned financing structure.

The Finance Department, Haryana, has provided its concurrence with certain terms and conditions, including a 2 per cent guarantee fee on the sanctioned credit limit, timely repayment obligations, and strict adherence to the purpose of fund utilisation.

The approval of the Working Capital Limit enhancement is a significant step towards realizing the vision of a developed and progressive Haryana.