COMPANY STARTS TOLLING ON THE PROJECT W.E.F. 7TH MARCH 2018 IN LINE WITH THE PROVISIONAL CERTIFICATION FROM COMPETENT AUTHORITY
PROJECT HAS A CONCESSION PERIOD OF 29 YEARS
Mumbai, March 7, 2018: Solapur – Yedeshi Tollway Pvt. Ltd. (SYTPL), the Special Purpose Vehicle of India’s leading and largest highway infrastructure developer, IRB Infrastructure Developers Ltd., has commissioned its four laning highway project Solapur – Yedeshi, in the State of Maharashtra, on March 7, 2018; thus, throwing open all four lanes for vehicular traffic.
Speaking on the occasion, the Chairman & Managing Director of the Company Mr. Virendra D. Mhaiskar said, “We are happy to open the newly widened highway for travelers. We hope that it would bring quicker and smoother connectivity and traveling experience, with high safety to the commuters commuting between Solapur and Osmanabad.” He further added, “This is our second project commissioned after Kaithal – Rajasthan Border Project in September 2017, and fifth project to start tolling – in FY 2018; which demonstrates our execution capacities.”
Key features of the project:
- 6th completed project and 10th project to start Tolling in IRB Infra’s BOT Portfolio
- Total project length 98.72 Kms section on NH 211. The stretch connects the prime places in the State including Tulajapur and Osmanabad.
- NHAI awarded this project under DBFOT pattern to IRB Infra for converting existing 2 lanes into 4 lanes, at a Project cost of Rs.1492 Crores, with a grant of Rs 189 Crores
- The project will have service road of 33.6 kms; 11 pedestrian underpasses; 7 flyovers; 2 major bridges; 25 small bridges; 66 intersections; 134 culverts; and one railway over bridge along with 2 Toll Plazas
- The Concession period for project is 29 years
- Tolling commenced w.e.f. March 7, 2018 midnight
- COD achieved in line with provisional certification issued by the Competent Authority
About IRB Infrastructure Developers Ltd:
IRB Infrastructure Developers Ltd (IRB) is one of the largest private roads and highways infrastructure developers in India.
The Company at present is having 6 projects under operational BOT space; 4 projects under Tolling & Construction, 7 projects under O & M contracts as a Project Manager for IRB InvIT and another 3 projects under various stages of construction.
IRB Group, in the 20th year of its journey towards excellence since inception, has achieved an unmatchable milestone of crossing 12,000 lane Kms, along with almost 20% share in India’s prestigious Golden Quadrilateral project; which is the largest by any private highways infrastructure developers in India.
Company’s construction order book as on 31st December 2017 stands at Rs.7400 Crores.
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 and also transferring 7 projects under the same. The Company was recently conferred on the prestigious ‘FinanceAsia – Best India Deal – Achievement Award 2017’ at Hong Kong.
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