IRB Infrastructure Developers provides update on SPV Udaipur Tollway

Toll collection and construction begins from 03 September 2017

IRB Infrastructure Developers announced that Udaipur Tollway - Wholly-owned Subsidiary of the Company, incorporated for implementation of Six Lanning from Udaipur to Rajasthan/Gujarat Border project has received the Appointed Date from the Competent Authority. Accordingly, the SPV has started toll collection and also construction on the Project from 03 September 2017.

Key highlights of the Project are as under:

The Project is on DBFOT Pattern
The concession period of the project is 21 years including construction period of 910 days
The Company started toll collection on the Project from Appointed Date i.e. 03 September 2017 being Six Lanning Project
The Company has offered premium of Rs. 163.80 crore to NHAI. The premium payment will commence after three years from the Appointed Date in terms of the Concession Agreement.

 

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