IVRCL bags Rs 1,125 cr road project

IVRCL Infrastructures and Projects Limited on Monday bagged a Rs 1,125-crore road project from the National Highways Authority of India. The project involves six laning of about 42 km stretch of road on the national highway number 47 and four laning of 13 km Coimbatore bypass road in Tamil Nadu.

According to IVRCL, the Hyderabad-based company through its two special purpose vehicles (SPVs) is executing road projects for a stretch of 100 km between Salem, Kumarapalayam and Chengapalli on a build, operate and transfer (BOT) basis. The scope of the current project work, which falls in the same corridor, includes design, engineering, finance, construction and maintenance. The concession period of the project is 27 years, including construction period of 30 months.

IVRCL had recently undertaken a restructuring plan of amalgamating its BOT holding companies with its group company IVR Prime Urban Developers Limited.