· IRB’s SPV to widen 124 Kms stretch on the NH-2
· The cost of project is around Rs.2650 Crores
· Company hasalready achieved Financial Closure for the project
· Toll operation is for 24 years and commenced on 1st August 2016
Mumbai, August 4, 2016: The AE Tollway Pvt. Ltd., a Special Purpose Vehicle of IRB Infrastructure Developers Ltd (IRB), one of the largest BOT road developers in India, has commenced construction work on the Agra – Etawah bypass road with effect from 1st August 2016.
The company has also started its Toll Operations on the road from 1st August 2016, in line with the appointed date duly communicated by the Competent Authority.
Commenting on this development, Mr. Sudhir R Hoshing, Joint Managing Director, IRB Infrastructure Developers Ltd. said “We are pleased to commence the widening work of Agra-Etawah bypass road. Once completed, the corridor will provide congestion free, safe and more comfortable travel to commuters with much reduced travel time.” He further added, “We are committed to develope the World Class road infrastructure that India needs to implement its development agenda.”
The Company has recently achieved a financial closure for the project.
To re-iterate, IRB Infrastructure Developers Ltd. hadearlier bagged the Rs.2650 Crores project of six laning of the 124 Kms section of Agra-Etawah bypass road on NH-2 in the State of Uttar Pradesh. The project is on Design, Build, Finance, Operate &Transfer (DBFOT) basis, as envisaged by the NHAI under its Phase-V of the National Highway Development Projects (NHDP).
About IRB Infrastructure Developers Ltd:
IRB Infrastructure Developers Ltd (IRB) is one of the largest private roads and highways infrastructure developers in India.
The Company is presently having 20 BOT projects across India out of which, 13 BOT projects have already been operational. Recently, the Company has been emerged as a Preferred Bidder for six laning of 113 Kms. Udaipur – Rajasthan/Gujarat Borderroad project.
The total value of roads and highways assets under operations and execution by IRB is more than Rs.31000 Crores, in addition to the strong order book of more than Rs.10000 Crores.
IRB, in the 10th year of its journey towards excellence, has achieved an unmatchable milestone of crossing 10000 lanes Kms, which is the largest by any private roads and highways infrastructure developers in India.