IRB bags 4th BOT project from NHAI in June
IRB Infrastructure Developers Ltd has bagged its 4th BOT project from NHAI in the ongoing month (June 2009). The Company emerged as the lowest bidder for the Design, Engineering, Finance, Construction, Operation and Maintenance of the 4-laning of Talegaon-Amravati Section of NH6 in Maharashtra under NHDP Phase III of NHAI.
Based on the DBFOT pattern, the project cost is approximately Rs800 crore. IRB gets a concession period of 22 years and the equity support from NHAI during construction phase demanded is Rs216 crore. The project length is 67.73kms., and the project deadline is 910 days.
VD Mhaiskar, CMD, IRB infrastructure Developers Ltd said, “Successful and timely implementation of projects in the niche area of highway development is translating into more BOT projects for us and making us a key player in this field.”
The company is already working on a continuous stretch of 415 kms of highways from Pune to Baruch via Mumbai, Vapi and Surat, through its projects: Mumbai-Pune BOT (NH4 of 111 kms), Dahisar- Surat BOT (NH8 of 239 kms) and Surat-Baruch BOT(NH8 of 65 kms). This translates into 7% of the Golden Quadrilateral coming under IRB’s management, the largest holding under any single developer.
The NHAI (National Highways Authority of India) has undertaken the conversion of most of the existing four lane highways on the Golden Quadrilateral (GQ) into six-laners to accommodate the high volume of freight traffic expected on this carriageway and has entrusted these projects to private entrepreneurs as DBFO (Design-Build-Operate-Transfer) projects.
IRB’s BOT-order bagging spree began last week when the company bagged its first order from the state of Goa worth Rs800 crore, followed by a Rs1,200 crore order from Punjab and the third from Rajasthan worth Rs1,500 crore.