IRB Infrastructure Developers arm signs pact for Rs 2,132 crore project

IRB Infra

IRB Infrastructure Developers on Tuesday said its wholly-owned subsidiary Samakhiyali Tollway Pvt Ltd has executed the concession agreement with the National Highway Authority of India (NHAI) for a Rs 2,132 crore road project.

The project with a cost outlay of Rs 2,132 crore included upgradation of the existing four lanes to six lanes of NH27 stretch of 90.90 km from Samakhiyali to Santalpur in Gujarat on build-operate-transfer (Toll) mode.

The project has a concession period of 20 years from the appointed date including two years construction period, it added.

IRB Infrastructure Developers Chairman & Managing Director Virendra D. Mhaiskar said that executing the Concession Agreement is an important phase for any project that enables the developer to proceed to the next step, i.e., arranging finances for the project.

IRB has an asset base of over Rs 70,000 crore in 11 states across the parent company and two InvITs.