IRB Infra bags deal for 4-laning of Goa-Karnataka highway

IRB Infrastructure Developers Ltd has been awarded the four-laning of the 65-km long National Highway-4a Goa-Karnataka border starting from Panjim. The contract has been awarded on a 30-year design-build-operate and transfer basis to IRB, which will implement it through a special purpose vehicle.

The company plans to raise the funds from the parent company and achieve financial closure after it gets the letter of award in two weeks. The National Highway Authority of India (NHAI) will be chipping in with Rs 186 crore by way of viability gap funding for the Rs 800-crore project. The project is expected to be completed by 2011.