IRB Infra subsidiary in concession agreement with NHAI for four laning project on DBFOT basis

March 28, 2013

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IRB Infra subsidiary in concession agreement with NHAI for four laning project on DBFOT basis

IRB Infrastructure Developers Ltd has informed BSE that Company’s wholly-owned subsidiary Company viz. 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 2 lane highway to 4 lane highway. Estimated project cost is approx. Rs. 2600 crores 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 Rs. 536.22 crores.Source : BSE

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