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IRB Infrastructure Developers’ SPV starts toll collection on Mumbai-Pune project

02 Mar 2020 Evaluate

IRB Infrastructure Developers’ special purpose vehicle (SPV)--IRB MP Expressway has received a Commencement Order from the Competent Authority. Consequently, the SPV has started toll collection from March 1, 2020 on both Expressway and NH-48 section of Mumbai-Pune Project. 

IRB to pay upfront payment of Rs 6500 crore to MSRDC and a further staggered payment of Rs 850 crore in year 2, Rs. 850 crore in year 3 and Rs 62 crore in year 4, aggregating to Rs 8,262 crore for Sub-Concession Period of 10 years and 2 months. The project is on Tolling, Operation, Maintenance and Transfer basis. Project Length is approximately 205.40 Kms. including Expressway and NH-48 section of Mumbai-Pune Corridor.  The Sub-Concession Period of the project is until April 30, 2030 i.e. 10 years and 2 months.

IRB Infrastructure Developers undertakes development of various infrastructure projects in the road sector through several special purpose vehicles.

Peers
Company Name CMP
Larsen & Toubro 3699.00
Kalpataru Projects 1456.60
NCC 126.90
Rail Vikas Nigam 196.00
KEC International 362.35
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