Toll road firm IRB Infrastructure Developers on Friday said it has bagged two projects with a total value of Rs 3,492 crore under the hybrid annuity model (HAM) from the National Highways Authority of India (NHAI) in Tamil Nadu.
These projects mark the foray of the company, which has been a leading player in the build-operate-transfer segment, in the HAM space, IRB said in a statement issued here.
The projects include one four laning of 56.8 km stretch from Poondiankuppam to Sattanathpuram with cost outlay of Rs 2,196 crore and another Rs 1296 crore worth four laning of 38 km from Puducherry to Poondiankuppam.
"Winning these two projects for the first time under the HAM model demonstrates high trust and confidence in our domain expertise and execution capabilities. Alike BOT space, we would endeavour to leave our footprints and achieve new benchmarks in HAM space too," company's chairman and MD Virendra Mhaiskar said.
Under the contract, the concession period will comprise 730 days for construction and 15 years operations and maintenance rights thereafter, the release said.
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