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| IRB bags 4th BOT project on Amravati-Talegaon stretch of NH-6 |
| Announcement / Corporate Jun 25, 2009, 20:22 IST |
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IRB Infrastructure Developers Limited, (BSE: 532947), one of the largest highway development companies in the country, has bagged 4 BOT projects totaling Rs. 4,300 crores from NHAI in June.
The BOT-order bagging spree began last week when the Company bagged its first order from the state of Goa worth Rs. 800 crores, followed by a Rs.1,200 crore order from Punjab and the third from Rajasthan worth Rs. 1,500 crores. The present one is from Maharashtra on the Talegaon-Amravati section of NH-6.
The Company emerged as the lowest bidder for the Design, Engineering, Finance, Construction, Operation and Maintenance of the 4-laning of Talegaon-Amravati Section of NH6 in Maharashtra under NHDP Phase III of NHAI. Based on the DBFOT pattern, the project cost is approx. Rs. 800 crores. IRB gets a concession period of 22 years and the equity support from NHAI during construction phase demanded is Rs. 216 crores. The project length is 67.73kms., and the project deadline is 910 days.
Mr. V. D. Mhaiskar, Chairman & Managing Director of IRB infrastructure Developers Ltd. said, “Successful and timely implementation of projects in the niche area of highway development is translating into more BOT projects for us and making us a key player in this field.”
The company is already working on a continuous stretch of 415 kms of highways from Pune to Baruch via Mumbai, Vapi and Surat, through its projects: Mumbai-Pune BOT (NH4 of 111 kms), Dahisar- Surat BOT (NH8 of 239 kms) and Surat-Baruch BOT(NH8 of 65 kms). This translates into 7 percent of the Golden Quadrilateral coming under IRB’s management, the largest holding under any single developer.
The NHAI (National Highways Authority of India) has undertaken the conversion of most of the existing four lane highways on the Golden Quadrilateral (GQ) into six-laners to accommodate the high volume of freight traffic expected on this carriageway and has entrusted these projects to private entrepreneurs as DBFO (Design-Build-Operate-Transfer) projects.
About IRB Infrastructure Developers Ltd.
IRB Infrastructure Developers Ltd. is an integrated infrastructure development and construction company in India with significant experience in the roads and highways sector. The Company is one of the largest private developers in western India and the largest toll road operating company in India. It is an established infrastructure company in the roads sector and has a large portfolio of completed and operational BOT projects in the roads infrastructure sector. BOT projects comprise over 95% of IRB’s Rs. 10,200 crores order book.
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