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IRB Infrastructure Developers provides update on Thane Bhiwandi Bypass Project

Capital Market 

Hands over project to MORTH after successful completion of concession period

has successfully completed concession period of Bhiwandi Bypass Project on 13 May 2017.

Bhiwandi Bypass Project involved Improvement and Maintenance of Bhiwandi Bypass including widening of existing 2 Lane Road to 4 Lane Road and Construction of New 2 Lane Bridge on Kasheli Creek [From Km (-) 0/115 to 23/509 Under BOT Scheme with Toll Rights] ('the Project').

The Concession Agreement for the Project was signed on 21st September 1998. The Concession Period of the Project was 18 years and 6 months.

Now, upon successful completion of concession, the company has handed over the Project to the Ministry of Road Transport & Highways (MORTH)/ PWD - Government of Maharashtra.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 16 2017. 20:56 IST