Project today reported that India Infrastructure Finance Co Ltd is planning to increase INR 1000 crore through tax free bonds by March 2009.

As per report, the company is likely to use the fund to refinance port, highway and power projects, being developed under the PPP model. Depending on need, IIFCL will be permitted to raise further resources by issue of such bonds. The bond funds will be used by IIFCL to refinance bank lending of longer maturity to eligible infrastructure projects.