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IRB Group receives letter of award for Rs 2,100 crore project from NHAI

IRB Group receives letter of award for Rs 2,100 crore project from NHAIIRB Infrastructure Developers Ltd, one of the leading construction and infrastructure entities recently received letter of award from National Highways Authority of India (NHAI) for Rs 2,100-crore highway project in Rajasthan and Gujarat.

In a filing to the Bombay Stock Exchange (BSE), IRB Infrastructure Group stated, “The company has received letter of award from NHAI for the project of six laning from Udaipur to Rajasthan/Gujarat border i.e from km 287.4 to 401.2 section of NH 8 in the states of Rajasthan and Gujarat,”

“IRB has emerged as a preferred bidder for the project of six laning from Udaipur to Rajasthan/ Gujarat border on section of NH-8 in Rajasthan and Gujarat,” the company said in a statement.

The company further added that it has offered premium of Rs 163.80 crore to NHAI for the agreement. The project will be based on design, build, finance, operate and transfer (DBFOT) mode under National Highways Development Project Phase V. Rs 2,100 crore is the estimated cost of the project. The concession period of the project is 21 years including construction period of 910 days.

“Subject to award, IRB’s construction order book will stand to increase to around Rs 10,000 crore, to be executed in the next four years. This will boost the company’s construction order book visibility for next three to four year,” IRB said.

Since its inception, the IRB Group has constructed and maintained around 9,295 lane kms of road length. It has already built 4000 km of roads in six states and plans to execute further 3000 by the year 2020. Around Rs. 284,928 Million is the aggregate size of all the completed and under execution projects by the company.

Bagging the Rs 2,100-crore highway project in Rajasthan, the company has 21 build-operate-transfer (BOT) road projects, out of which 13 projects are under operation.