IRB eyes to bag a tenth of new BOT projects from NHAI

With the National Highways Authority of India (NHAI) likely to issue tenders for 4,000 km of road BOT projects this fiscal, toll road firm IRB Infrastructure Developers expects to bag at least 400 km.
"The government intends to invite tenders for at least 8000 km out of which nearly 50 per cent or 4000 km are likely to be bid on build, operate and transfer (BOT) model this fiscal. We are confident of bagging at least 400 km out of this," IRB Chairman and Managing Director Virendra Mhaiskar told reporters after the company's 17th annual general meet here.
He said the company has already bagged 125 km and Rs 2,650 crore worth six laning of Agra-Etawah bypass section of NH-2 in Uttar Pradesh and one is Mumbai Pune Phase II.

"We are confident of achieving our target of getting up to 400 km this year," he said.
The government taken various steps to give a boost to the sector which also includes expanding its total budgetary allocation for it by 48 per cent to Rs 42,913 crore.
A few initiatives taken by NHAI include the introduction of hybrid annuity model for awarding new projects, re-drafting of the model concession agreement, rescheduling of the premium payable by the concessionaire, rebidding of failed BOT projects and more clarity on the exit policy for road projects.
"The government has identified road infrastructure as a priority sector and is taking these critical steps. We are doing our bit in driving these initiatives to the level we can and continue to extend our footprint to create new pathways of progress that will transform India," Mhaiskar said while addressing the shareholders.

The company's order book has reached to around Rs 12,631 crore of which Rs 10,770 crore is construction order book.