Categories: Business

Reliance Infra will be debt free in FY21 says anil ambani

Photo: FILE

R Infra Chairman Anil Ambani

new Delhi. Reliance Infrastructure Chairman Anil Ambani said on Tuesday that the company will be completely debt free in the current financial year. Reinfra currently has a debt of over Rs 6,000 crore and the company is working towards monetization of its assets to reduce debt. Ambani, addressing an annual meeting of the company's shareholders through an online platform, said, "Reinfra will become a debt-free company this year."

The company sold its Mumbai-based energy business Adani Transmission in 2018 for about Rs 18,800 crore, reducing its debt by about Rs 7,500 crore. The company is in the process of selling the Delhi-Agra toll road to Singapore-based Cube Highway and Infrastructure for Rs 3,600 crore. Ambani further said that Reinfra owes around 60,000 crore, which has been stuck in regulatory and arbitration cases for 5-10 years.

At the same time, he said that no personal guarantee has been given for borrowings made by RCom from 3 banks in China. A UK court has directed Anil Ambani to pay about $ 72 million to the three lenders. He said that in the case of SBI and Chinese banks, the loans are taken as a company and they are not individual.

This post was published on June 23, 2020 9:18 pm

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