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IRB Infrastructure Developers Ltd's Subsidiary Announces Concession Agreement With NHAI


Tuesday, 26 Mar 2013 03:58am EDT 

IRB Infrastructure Developers Ltd announced that its wholly owned subsidiary Company that is IRB Westcoast Tollway Pvt. Ltd, (SPV) has executed Concession Agreement with NHAI for the project of Four Laning of Goa/Karnataka Border to Kundapur section of NH-17 from Km 93.700 to Km 283.300 in the State of Karnataka under NHDP phase IV on Design, Build, Finance, Operate and Transfer (Toll) Basis (the Project). The Project is to be executed on DBFOT pattern with a concession period of 28 years. Scope of work involves upgradation of existing section of NH-17 between Goa/Karnataka Border and Kundapur from existing two lane highway to four lane highway. Estimated project cost is approximately INR2,600 crores (INR26 billion) and the construction is to be completed within 910 days from the appointed date. The SPV will get tolling rights on NH - 17 upon completion of construction. The grant sought by the SPV from NHAI is INR536.22 crores (INR5.3622 billion). 

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