IRB Infrastructure Developers Ltd has informed that company's wholly-owned subsidiary Company IRB Westcoast Tollway Pvt. Ltd,  has executed the 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 has a concession period of 28 years. Scope of work involves upgradation of existing section of NH-17 between Goa/Karnataka Border and Kundapur from existing 2 lane highway to 4 lane highway. 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 crores (US$96 million). Estimated project cost is approx. Rs. 2600 crores (US$430 million approx.) and the construction is to be completed within 910 days from the appointed date.

IRB Infrastructure received the Letter of Award for the project in August 2012.