IRB Infrastructure Developers’ arm executes concession agreement with NHAI

IRB Infrastructure Developers’ wholly-owned subsidiary company - IRB Westcoast Tollway (SPV) has executed concession agreement with NHAI for the project of four laning of Goa/Karnataka Border to Kundapur section of NH-17 from Km 93.700 to Km 283.300 in the state of Karnataka under NHDP phase IV on Design, Build, Finance, Operate and Transfer (Toll) basis.

The project is to be executed on DBFOT pattern with a concession period of 28 years. The scope of work involves up-gradation of existing section of NH-17 between Goa/Karnataka Border and Kundapur from existing 2 Lane Highway to 4 Lane Highway.

The estimated project cost is approximately Rs 2,600 crore and the construction is to be completed within 910 days from the appointed date. The SPV will get tolling rights on NH - 17 upon completion of construction. The grant sought by the SPV from NHAI is Rs 536.22 crore.

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