IRB Infrastructure Developers wins bid for Rs 21.93 bn BOT project under Bharatmala in West Bengal.
Jul 14 2020,02:07 PM CW Team
• First project for company in Eastern India, marking its entry in the ninth Indian state.
• Project is six-laning of NH-19 section of 63.83 km stretch from Palsit to Dankuni in West Bengal.
• This section is part of the Golden Quadrilateral Project.
IRB Infrastructure Developers (IRB), among India’s leading and the largest highways infrastructure developers, is now set to enter the Eastern territory of India.
The company has emerged as a preferred bidder for BOT project of six-laning of the national corridor NH-19 from Dankuni to Palsit stretch of 63.83 km in West Bengal, with a project cost of Rs 21.93 billion.
While commenting on the development, Virendra D Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers, said, “We continue to look for opportunities to expand and diversify our presence. With this win, we will enter the eastern jewel of India. We are committed to build world class highway infrastructure for the development of eastern region and to bring quality connectivity with the rest of the country.”
Key highlights of the project are as under:
• The project is on design, build, finance, operate & transfer (DBFOT) basis.
• The concession period is 17 years including construction period of 910 days.
• The company will get tolling rights on the project from the appointed date.
• Upon award of this project, the company’s March 2020 order book stands updated at approximately Rs 146 billion.
Also, IRB Infra had recently bagged India’s largest TOT project of Mumbai Pune Expressway of Rs 82.62 billion and has already paid the first tranche of Rs 65 billion as upfront sub-concession fee to MSRDC.