IRB Infrastructure and NHAI are jointly to construct four lanes in NH-152/65 in Haryana
IRB Infrastructure has signed an agreement with the National Highways Authority of India (NHAI) for a Rs 2,300-crore project for widening of a highway stretch in Haryana under National Highways Development Project (NHDP).
This is a positive Public Private Partnership (PPP) in which one of the largest BOT (build, operate, transfer) road developers in India, IRB Infrastructure Developer’s wholly-owned subsidiary Kaithal Tollway has entered into an agreement with NHAI. This is a concession agreement with NHAI for the project where Kaithal-Rajasthan Border Section of NH-152/65 from 33.250 km to 241.580 km in Haryana will be four laned under the NHDP Phase – IV.
The project is to be executed on DBFOT (design, build, finance, operate and transfer) pattern and the concession period is for 27 years.
Modi government is known for its time bound approach and this agreement too was signed in a similar fashion under the directive of Roadways Ministry wherein the construction will be completed within 910 days. The estimated project cost is approximately Rs 2,300 crore.
This project will expand IRB Infrastructure’s base in Haryana and hence is quite a crucial project for them. This news already had a positive impact on the share market and the shares of the company closed at Rs 206.35 apiece on the BSE, which was up by 0.78 %.
Source- The Financial Express
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