IRB Infra gets NHAI nod for transferring project to InvIT

04 Nov 2022 CW Team

IRB Infrastructure Developers Ltd said this week that it has received approval from the National Highways Authority of India (NHAI) to transfer its subsidiary Vadodara Kim Expressway Project to he IRB InvIT Fund, a publicly offered and listed infrastructure investment trust (InvIT) fund sponsored by the company.

IRB Infrastructure said having received the permission, it will now complete the transfer process and will also receive full consideration of Rs 3.42 billion.

The move will result in a consolidated debt reduction of Rs 9.55 billion. Last month, IRB Infra announced that it had executed a share purchase agreement and other ancillary agreements for the transfer of the Vadodara-Kim Expressway Project to the IRB InvIT Fund.

The Vadodara-Kim stretch, which is part of the Delhi-Mumbai Expressway, is 23.74 km long and has a project cost outlay of Rs 20.94 billion.

In June this year, the company mentioned that the Vadodara-Kim expressway project offered meaningful cashflow visibility of over 15 years to the public InvIT. The transaction will free cash for IRB to fund its future project pipeline.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..