IRB Infrastructure for maintenance work of Mumbai-Pune NH-4
IRB Infrastructure Developers Ltd today said it has won an Rs 1,687 crore project from Maharashtra State Road Development Corporation (MSRDC) for operation and maintenance of an expressway along with a stretch of Mumbai-Pune NH 4.
The company has received the letter of award for MSRDC’s project of operation and maintenance of Yashwantrao Chawan Expressway and Mumbai-Pune section of NH 4 on DBFOT basis with toll rights in the state of Maharashtra as the IRB Infrastructure Developers said in a filing to the BSE.
Total six bidders, including IRB Infra, had participated in the international electronic competitive bidding process. The final offer of the company for a concession period of 8 years 8 months and 2 days being the lowest amongst all the bidders has been accepted by the MSRDC, it said. The estimated cost of the project is Rs 1,687 crore, including Rs 1,000 crore as upfront premium payable to MSRDC in four annual instalments… commencing from March 31, 2015 it said.
This expressway construction work might be starting from the next year. However it has not been mentioned directly.
Source: The Economic Times
Construction, Infrastructure, IRB Infrastructure Developers, IRB Infrastructure Developers Ltd, Maharashtra State Road Development Corporation, Mumbai-Pune NH 4
