IRB Infrastructure Developers’ wholly owned subsidiary -- IRB Ahmedabad Vadodara Super Express Tollway (SPV) -- has been issued a Provisional Completion Certificate by the Competent Authority --National Highways Authority of India (NHAI) -- on December 04, 2015. Consequently, the SPV has started toll collection on NH - 8 arm of this project from December 06, 2015. The SPV is already collecting toll on Ahmedabad Vadodara Expressway (NE- 1) arm since January 2013.
This project is the largest project in the company's portfolio. The project involved up-gradation of existing section of NH - 8 between Ahmedabad and Vadodara from 2 lane highway to a 6 lane super expressway and value addition to the existing Ahmedabad Vadodara expressway. The SPV has constructed 15 flyovers, 4 bridges, 31 underpasses and additional railway over bridges on the NH-8 arm.
The concession period including construction period is 25 years with an estimated project cost of Rs 48.80 billion. The company had bagged this project from NHAI on a premium of Rs 3.09 billion which would be increased by 5% YoY for the duration of the concession period.
