GIC to invest $611m in IRB's roads platform.

GIC, Singapore’s sovereign wealth fund, agreed to invest $611m in IRB's, a road developer, roads platform. The investment GIC includes funding of future construction costs. It will be used for deleveraging the portfolio and equity funding for under-construction projects of the portfolio. “IRB and GIC plan to also explore future road sector opportunities in India together through the Private InvIT, exhibiting IRB’s strength and domain expertise as a market leader in Indian roads and highways sector," Virendra Mhaiskar, IRB Chairman and Managing Director.