IRB Infrastructure executes concession agreements

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IRB Infrastructure executes concession agreements

IRB Infrastructure has announced that Yedeshi Aurangabad Tollway, a wholly-owned Subsidiary of the company, has executed a concession agreement with NHAI for the project of Four Laning of Yedeshi - Aurangabad section of NH-211 in the state of Maharashtra

The project will be developed as BOT (Toll) on design, build, finance, operate and transfer (DBFOT) pattern under the National Highways Development Program (NHDP) Phase - IV. The project involves the section from km 100.000 to km 290.200 (design length 190 km).

IRB Infrastructure will be responsible for the contract for a period of 26 years.  The firm estimated the construction period will last for 910 days.

IRB Infrastructure had sought Rs. 5580 million (US$91.82 million) as Viability Gap Funding from NHAI fro the project.

The project will expedite improvement of infrastructure in Maharashtra and also reduce the time and cost of travel for traffic, particularly heavy traffic, plying between Aurangabad-Yedeshi section of National Highway-211. This stretch is a link between NH-3 and NH-4 in Maharashtra and shall be giving feeder traffic to 'Yedeshi-Solapur' meeting Golden Quadrilateral NH-4 at solapur city.

The Request for Qualifications for this project was published in November 2012. The project was approved by the India's Cabinet Committee on Economic Affairs in October 2013.

IRB Infra has also announced that IRB Ahmedabad Vadodara Super Express Tollway as well as IRB Tumkur Chitradurga Tollway, wholly owned subsidiaries of the company, have executed with NHAI supplementary agreement to concession agreement in respect of the scheme of deferment of premium approved by NHAI. The scheme will be applicable to both projects from FY 2014-15 onwards.

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