IRB Infra gets NHAI nod for transferring project to InvIT
ROADS & HIGHWAYS

IRB Infra gets NHAI nod for transferring project to InvIT

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.

See also:
IIFCL aims to sanction Rs 300 bn infra loans this fiscal
Karnataka floats tenders for Chandapura Lake clean-up


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. See also: IIFCL aims to sanction Rs 300 bn infra loans this fiscal Karnataka floats tenders for Chandapura Lake clean-up

Next Story
Infrastructure Transport

Ahmedabad Plans Elevated Corridor To Ease Airport Congestion

Authorities in Ahmedabad are evaluating plans to ease traffic congestion at the Sardar Vallabhbhai Patel International (SVPI) Airport, where the single entry–exit route has long been a bottleneck for commuters. At a recent high-level meeting, officials from the Airport Authority, Ahmedabad Municipal Corporation (AMC), and other agencies discussed two proposals — constructing new approach roads or developing an elevated corridor, similar to the one near Delhi Airport.The Airport Circle road, currently used for both arrivals and departures, experiences heavy congestion throughout the day. Un..

Next Story
Infrastructure Transport

GMLR’s First Flyover To Open By May 2026, Says BMC

The Brihanmumbai Municipal Corporation (BMC) has announced that the first flyover of the Goregaon–Mulund Link Road (GMLR) project will be ready for use by May 2026.The GMLR, one of Mumbai’s most ambitious infrastructure ventures, involves a 12.2-kilometre corridor comprising tunnels, flyovers, and interchanges, built at an estimated cost of Rs 140 billion. The project aims to provide a seamless connection between Mumbai’s western and eastern suburbs, drastically reducing travel time and congestion.The first phase features a 1.2-kilometre flyover, beginning near Dindoshi Court and extendi..

Next Story
Infrastructure Transport

Assam Awaits Nod For Rs 60 Billion Brahmaputra Tunnel

Assam’s ambitious Rs 60 billion underwater tunnel project, India’s first to be built beneath a major river, is awaiting Union Cabinet approval, according to a report by The Times of India. The proposed tunnel will connect Numaligarh and Gohpur under the Brahmaputra River, significantly improving road connectivity and strengthening strategic infrastructure near Arunachal Pradesh, which borders China.Estimated to take five years to complete, the project marks a major milestone in India’s transport and defence infrastructure planning. “The Detailed Project Report (DPR) is ready and will s..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?