IRB Infrastructure Developers Ltd (IRB), India’s leading and the largest highways infrastructure developers bagged its third successive project from NHAI under Hybrid Annuity Model (HAM) in the state of Gujarat.
The Company emerged as a preferred bidder for construction of eight lanes on the Vadodara – Mumbai Expressway in the Gujarat, on the stretch having length of 23.740 Kms at the cost of Rs. 2,043 Crs.
Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We are happy to see the Company being awarded with third successive project under Hybrid Annuity in a week’s time. This has once again acknowledged the high trust and confidence in our domain expertise, rich experience and execution capabilities demonstrated over last two decades.”
Key highlights of the Projects are as under:
- The project is in Gujarat for eight laning of stretch of 23.740 Kms on Vadodara – Mumbai Expressway, between Padra and Vadodara, with cost outlay of Rs.2043 Crs.
- The concession will comprise 730 days for construction and 15 years Operations & Maintenance rights thereafter
About IRB Infrastructure Developers Ltd:
IRB Infrastructure Developers Ltd (IRB) is one of the largest private roads and highways infrastructure developers in India, with its presence in BOT and HAM space.
At present, the Company is having 7 projects under operational BOT space; 3 projects under HAM space; 4 projects under Tolling & Construction, 7 projects under O & M contracts as a Project Manager for IRB InvIT and another 2 projects under advanced stages of construction. The Company has successfully completed 7 Concessions till date.
IRB Group, in the 20th year of its journey towards excellence since inception, has achieved an unmatchable milestone of crossing 12,000 lane Kms, along with almost 20% share in India’s prestigious Golden Quadrilateral project; which is the largest by any private highways infrastructure developers in India.
Company’s construction order book as on today stands at more than Rs.12,000 Crores.
IRB Infrastructure Developers Ltd. is India’s first Infrastructure developer Company to have privilege of successfully launching and listing of India’s first ever InvIT IPO and also transferring 7 projects under the same. The Company was recently conferred on the prestigious ‘FinanceAsia – Best India Deal – Achievement Award 2017’ at Hong Kong.