Project entails Tolling and O&M activities on the 158 Kms (1,264 Lane Kms) stretch for revenue linked Concession Period of 30 Years
2nd largest single asset TOT project in the country – after Mumbai Pune Expressway project – both now part of Company’s Portfolio, taking company’s share in TOT space to 37%
Company to make upfront payment of Rs. 7,380 Crores to the Hyderabad Metropolitan Development Authority (HMDA), upon Financial Closure
Project marks Company’s entry in the State of Telangana – 11th State for the group
With this award, Company’s Asset Base expands to over Rs 70,000 Crores and O&M Order Book grows by Rs. 14,500 Crores
New Delhi, April 28, 2023: Marking its entry in the State of Telangana, IRB Infrastructure Developers Ltd. (IRB), India’s leading and the largest integrated multi-national highways infrastructure developer has been awarded 158 Kms (1,264 Lane Kms) Hyderabad Outer Ring Road (ORR) project under Toll-Operate-Transfer (TOT) model with revenue linked Concession Period of 30 Years for upfront consideration of Rs. 7,380 Crores.
Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., said, “Proud to add this prestigious project to our portfolio, taking our asset base to over Rs.70,000 Crores and share in TOT space to 37%, the largest by any private player in India.” He added, “We express our sincere gratitude towards all authorities and stakeholders. We endeavor to execute this project through our Pvt InvIT platform.”
The Hyderabad Metropolitan Development Authority (HMDA) had invited global competitive bids for the project; in which the Company had participated and emerged as the selected bidder.
After signing the concession agreement, the project SPV will be making the payment of Rs. 7,380 Crores within a span of 120 days.