IRB wins Rs800cr BOT project
IRB Infrastructure Developers Ltd has received a Letter of Award (LOA) from the National Highways Authority of India (NHAI) for Project of four-laning of Goa- Karnataka border Km 84.00 to Panaji – Goa Km 153.070 in the State of Goa under NHDP Phase III on BOT basis.
Based on the DBFO (Design, Build, Finance and Operate) pattern, the project cost is approx. Rs. 800 crores. The project length is 65.07 Kms. IRB gets a concession period of 30 years and the equity support from NHAI during construction phase demanded is Rs.186.30 crores. The construction period is 910 days.
VD Mhaiskar, Chairman & Managing Director of IRB infrastructure Developers Ltd. said, “We are proud to bag such outstanding orders. It is sheer hard work and dedication of each and every employee. We are glad to receive this order, which manifests that IRB Infrastructure Developers Ltd is capable of executing large scale projects within a stipulated deadline and the construction quality is at par with the global standards.”
BOT Projects comprise over 95% of IRB Rs10,200 crore order-book. Since February 25, 2008, the Company has been listed on the NSE and BSE.