February 12, 2020
Starts tolling in line with the provisional completion certificate received from NHAI
Project has concession life of 28 years
All projects in Company’s BOT portfolio are now Revenue Generating
IRB Westcoast Tollway Ltd., the Special Purpose Vehicle of India’s leading and largest highway infrastructure developer, IRB Infrastructure Developers Ltd., has commissioned its Goa/Karnataka Border – Kundapur four laning highway project; thus, now opened for the vehicular traffic.
With this project getting commissioned, all the projects in Company’s BOT portfolio are now revenue generating projects.
Speaking on the occasion, The Chairman & Managing Director of the Company Mr. Virendra D. Mhaiskar said, “We are happy to commission the important coast highway infrastructure link between West and South India. We believe that the project would bring the world class and safe commuting experience of the highway infrastructure in India.” He further added, “We are grateful to all the stakeholders, external as well as internal, who left no stone unturned to achieve COD for this project.”
Key features of the project:
Total portfolio of 12 revenue generating BOT projects; the largest by any private highway infrastructure developer in India.
Total project length 1896.6 Kms, section on NH 17
Project cost is Rs. 3,447 Crores; with the Concession period of 28 years
The project is conversion of existing 2 lanes into 4 lanes
The project has service road of 61.26 km; 9 pedestrian underpasses; 3 vehicular underpasses; 4 flyovers; 39 small bridges; 14 major bridges; 23 intersections; 573 culverts; and 3 railway over bridges and 3 toll fee plazas
To re-iterate, the Goa/Karnataka Border – Kundapur stretch of 189.6 Kms is part of NH – 17, which is the important north-south highway link on the western coast of India. The Company had bagged this project under NHDP Phase IV on Design, Build, Finance, Operate and Transfer (Toll) basis and had a Viability Gap Funding (VGF) of Rs. 536.22 Crores.
About IRB Infrastructure Developers Ltd.
IRB Infrastructure Developers Ltd (IRB) is one of the largest private roads and highways infrastructure developers in India having strong track record of constructing over 12,600 lane Kms in 2 decades.
The Company has executed projects Pan-India with an ability to construct over 500 Kms in a year. It has approx. 20% share in India’s prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.
IRB Group’s portfolio comprises of 20 projects including 19 BOT and 1 HAM projects. BOT segment includes 7 operational projects, 5 projects under Tolling & Construction and 7 projects under O & M contracts as a Project Manager for IRB InvIT.
Company’s order Book as on 30th September 2019 stands at c. INR 11,400 Crores.Source: Newsvior