COMPANY STARTS TOLLING ON THE PROJECT W.E.F. 8TH SEPTEMBER 2017 IN LINE WITH THE PROVISIONAL CERTIFICATION FROM COMPETENT AUTHORITY
CONCESSIONAIRE TO COLLECT USER FEES FOR 27 YEARS
Mumbai, September 11, 2017: Kaithal Tollway Pvt. Ltd. (KTPL), the Special Purpose Vehicle of India’s leading and largest highway infrastructure developer, IRB Infrastructure Developers Ltd., has commissioned its Kaithal – Rajasthan Border four laning highway project on 8th September 2017. With this, the project is now opened for vehicular traffic with effect from midnight 8th September 2017.
Speaking on the occasion, the Chairman & Managing Director of the Company Mr. Virendra D. Mhaiskar said, “It’s another jewel in our crown for us at IRB. We are happy to throw the project open for commuters. Hope it would bring the world class and most safe commuting experience of the highway infrastructure in India.” He further added, “We are grateful to all the stakeholders, external as well as internal, who left no stone unturned to achieve COD for this project.”
Key features of the project:
- 8th project in IRB Infra’s BOT Portfolio; the largest by any private highway infrastructure developer
- Total project length 166.26 Kms, section on NH 152/65
- Project cost is Rs.2290 Crores; including VGF of Rs.234 Crores
- NHAI awarded the project under BOT space to IRB Infra in 2014
- The project is conversion of existing 2 lanes into 4 lanes
- It will have, service road of 20.90 kms; 18 pedestrian underpasses; 5 vehicular underpasses; 5 flyovers; 13 small bridges; 71 intersections; 241 culverts; and one railway over bridge
- The Concession period for project is 27 years
- Tolling commenced w.e.f. 8th September 2017 midnight
- COD achieved in line with provisional certification issued by the Competent Authority, as SPV satisfactorily completes 144 Kms, i.e., 87% construction work, four months ahead of schedule
The Kaithal – Rajasthan stretch of 166 Kms is part of NH – 65, which starts from Ambala in Haryana and ends at Pali in Rajasthan. The stretch passes through four districts in Haryana States, viz. Kaithal, Jind, Hissar and Bhiwani.
About IRB Infrastructure Developers Ltd:
IRB Infrastructure Developers Ltd (IRB) is India’s leading and one of the largest private roads and highways infrastructure developers.
The Company at present operates 8 highway projects under BOT space, post transferring 6 projects to India’s first ever InvIT, which are now under Operations and Maintenance contracts and 7 projects under various stages of construction.
Company’s Construction Order Book stands at Rs.8900 Crores as on 30th June 2017, i.e., at the end of Q1 of FY 2017 – 2018.
The Company, in 10th year of its journey towards excellence post listing, has achieved an unmatchable milestone of around 12,000 lanes Kms, including 20% share in India’s most prestigious and ambitious Golden Quadrilateral project. This is the largest portfolio of projects held by any private highways infrastructure developers in India.
IRB Infrastructure Developers Ltd. is India’s first Infrastructure developer Company to have privilege of successfully launching and listing of India’s first ever InvIT IPO.
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