IRB Infra’s SPV receives appointed Date for Chittorgarh – Gulabpura Highway Project

IRB Infra’s SPV receives appointed Date for Chittorgarh – Gulabpura Highway Project

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CG Tollway Private Ltd., a wholly-owned Subsidiary and a Special Purpose Vehicle (SPV) of IRB Infrastructure Developers Ltd., has received Appointed Date from NHAI for Chittorgarh to Gulabpura six laning Highway Project.

The SPV, has began Tolling as well as Construction work on the 124.87 Kms corridor of NH-79 from 4th November 2017; thus, starting revenue generation from day one.

Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., said, “This is yet another encouraging development for us, post beginning of tolling for Udaipur-Gujarat border project, achieving COD for Kaithal Rajasthan and successfully transferring Amritsar-Pathankot to IRB InvIT. Once completed, we are sure that this project will provide congestion free, safe and comfortable travel experience to the commuters.”

He further added, “We are committed to develop the World Class road infrastructure that India needs, to implement its development programmes in near future.”

The Project, with cost outlay of Rs. 2090 Crores, involves 6 Laning of 124.87 Km stretch on NH-79 between Chittorgarh and Gulabpura in Rajasthan.

The project is financed by Consortium of Lenders led by State Bank of India. Other members include, Bank of India, Bank of Maharashtra, Canara Bank, Indian Overseas Bank, Andhra Bank and Aditya Birla Finance Ltd.

With this, two of the three Rajasthan 6-laning projects, Udaipur-Gujarat border and Chittorgarh-Gulabpura have commenced construction and tolling. Third project, Kishangarh-Gulabpura is expected to join the list soon.