In August 04 2004, the Maharashtra State Road Development Corporation Ltd. (MSRDC) and MIPL (Mhaiskar Infrastructure Private Limited), an SPV of IRB Infrastructure Developers Ltd., entered into a Concession Agreement to develop, operate and maintain the Mumbai Pune section of NH4 Project along with the O&M of NH4 and the Mumbai – Pune Expressway Project. The concession period of the Project is 15 years from the Appointed Date. The Concessionaire is allowed to collect the notified user fee from the road users during this period.
MIPL was entrusted to expand a 111.00 km section of NH 4 between Mumbai and Pune in Maharashtra from two lanes to four lanes and O&M of NH4 & the Mumbai – Pune Expressway Project on a DBFOT basis totaling 204.00 km
The Mumbai and Pune Project comprise the section of NH 4 from km 131.200 to km 20.400 and Mumbai – Pune Expressway.