IRB emerges preferred bidder for upgrading Agra-Etawah highway

Road construction major IRB Infrastructure Developers said on Thursday that it has emerged as a preferred bidder for the six-laning of the Agra-Etawah bypass section of National Highway (NH)-2 at an estimated cost of Rs.2,650 crore.

According to the company, it has emerged as the preferred bidder for developing the current road from 199.66 km to 323.52 km in Uttar Pradesh under NHDP (national highways development project) phase-V on a BOT (build, operate, transfer) mode.

"The estimated project cost of the company is Rs.2,650 crore with construction period of 910 days. The concession period...is 24 years," a company statement said.

The statement further said that subject to the award of the project, IRB's construction order book will stand to increase to Rs.10,900 crore, to be executed in the next four years.

"This project will expand the company's base in the eight state (Uttar Pradesh) and thereby it will aid the company's geographic diversification of projects," the statement added.

Currently, the company is expected to 23 road BOT projects out of which 17 are under operation.

The company;'s scrip on the Bombay Stock Exchange (BSE) rose by 4.35 points or 1.80 percent at Rs.246.35 around 1.00 p.m. from its previous day's close of Rs.242 per equity share.