R-Infra looks for refinance options on Mumbai Metro

Project cost during its development stage surged to Rs 4,026 cr, of which debt is around Rs 1,900 cr

Anil Ambani’s Reliance Infrastructure (R-Infra) is looking for options to further refinance that part of its debt taken for the conglomerate’s Mumbai Metro rail business, said two people with knowledge of the development.

And, exploring options for a divestment in the Mumbai Metro rail project, said one of the two sources.

“Refinancing of debt is the most routine corporate finance activity that every company regularly undertakes to lower its cost of operation,” said a spokesperson for R-Infra, to an e-mail query.

The spokesperson did not comment on divestment options for the metro project.

“The company has been discussing an option