- After three HAM projects, Company wins fourth project under BOT
- Project comprises six laning of 99.867 Kms section on NH-9 between Hapur and Moradabad in the State of Uttar Pradesh
- Company’s Construction Order Book stands at Rs.15,300 Crs
- Also, LoA received from NHAI for all three HAM projects bagged recently
Mumbai, March 22, 2018: After winning three successive projects under Hybrid Annuity Model, IRB Infrastructure Developers Ltd (IRB), has bagged fourth one under BOT space, from NHAI in Uttar Pradesh. The Company has been emerged as a preferred bidder for six laning of the 99.867 Kms stretch on NH-9 (earlier NH-24) on Hapur Bypass, from Hapur to Moradabad, for the cost of cost of Rs. 3,400 Crs.
Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We have proven track record in BOT space; and bagging another project in the BOT space is another jewel in the crown for us. This has once again acknowledged the high trust and confidence in our domain expertise, rich experience and execution capabilities demonstrated over last two decades.”
Key highlights of the Projects are as under:
- The Project is on DBFOT Pattern
- Project Length is approx. 99.867 Kms
- The concession period of the project is 22 years
- Total cost of the Project is approx. Rs. 3,400 Crore
- Company will be getting tolling rights on the Project from the Appointed Date
- Company to pay premium of Rs. 31.5 Crs to the NHAI from 4th year from the appointed date, as per the provisions of Concession Agreement;
Meanwhile, the Company has received Letter of Award (LoA) from the NHAI for all three projects recently bagged under the Hybrid Annuity Model.
The new project has taken Company’s construction order book to approx. Rs.15,300 Crores; thus, boosting up the construction order book visibility for next three to four years.
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, with presence in BOT and HAM space.
At present, the Company is having 7 projects under operational BOT space; 3 projects under HAM space; 4 projects under Tolling & Construction, 7 projects under O & M contracts as a Project Manager for IRB InvIT and another 2 projects under advanced stages of construction. The Company has successfully completed 7 Concessions till date.
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 today stands at more than Rs.15,300 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.
For further details, please contact:
- Vivek Devasthali, Head – Corporate Communications, 99300 80099, devasthali@irb.co.in
- Shahab Shaikh, Concept PR, 93208 97525, shahab@conceptpr.com