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| IRB bags Rs 1,500 crore BOT project in Rajasthan |
| Announcement / Corporate Jun 23, 2009, 20:23 IST |
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IRB Infrastructure Developers Limited, (BSE: 532947), one of the largest highway development companies in the country, is spreading its footprints further afield with a third BOT order bagged from NHAI.
The Company emerged as the lowest bidder for the Design, Engineering, Finance, Construction, Operation amd Maintenance of the Jaipur to Deoli Section of NH12 in Rajasthan under NHDP Phase III of NHAI.
Based on the DBFOT pattern, the project cost is approx. Rs. 1500 crores. The project length is 148.7 Kms. IRB gets a concession period of 25 years and the equity support from NHAI during construction phase demanded is Rs. 306 crores. The construction period is 910 days.
This order comes close in the heels of two other BOT projects bagged by the Company, one for the four-laning of NH-4A on Goa /Karnataka Border under NHDP Phase III of NHAI, and the second for its first BOT project in Punjab from Pathankot to Amritsar on NH – 15.
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 from other states,” he added.
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 DBFOT (Design-Build-Finance-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. 5900 crores order book.
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