IRB Infra bags Rs 3,200 cr road project in Maharashtra

Tags: Companies
IRB Infrastructure Developers Ltd today said it has bagged a Rs 3,200 crore road project in Maharashtra from National Highways Authority of India (NHAI).

The project is for 4-laning of Yedeshi – Aurangabad section of NH-211 from 100 km to 290.20 km in Maharashtra and will be executed as build-operate-transfer (BOT) on design- build-finance-operate-transfer pattern under NHDP-IV.

In a statement, the company said it has received Letter of Award after emerging as the preferred bidder for the project.

It added: "The estimated project cost of the company is approximately Rs 3,200 crore with construction period of 910 days. The concession period for the same is 26 years."

IRB already has in its portfolio 4-laning of Solapur to Yedeshi section of NH-211 from start to 100 km. With the new project, the company will now be developing entire road length of 288 km from Aurangabad to Solapur, it further said.

Moreover, the company has sought Rs 558 crore as Viability Gap Funding from NHAI for the project, IRB said.

As on December 2013, the company had an order book of Rs 5,800 crore from the construction segment and post today's announcement, it has increased to Rs 8,600 crore, the company said, adding that the orders have to be executed in the next three to four years.

"This will provide increased visibility to IRB for the next three to four years," it added.

Post the announcement, the IRB scrip was trading at Rs 120.25 on the BSE, up 2.91 per cent, from the previous close.

EDITORIAL OF THE DAY

  • Annual reports make sense only if accountable governance is in place

    It’s a sign of a lack of imagination to expect an annual report by a party in power to pull out some impressive performance given the complex nature

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Political rhetoric makes for counter poetry

Poetic flourishes flavour politics. Ghalib and Hafez flowed profusely to ...

Zehra Naqvi

Watch your words, for they can kill

You must’ve heard the ph­rase ‘if looks could kill’. Ever ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture