IRB Infrastructure Bags 158 Km-project In Hyderabad For Rs 7,380 Cr
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IRB Infrastructure Developers on Thursday said it has bagged 158 kilometre-long Hyderabad outer ring road project under the toll-operate-transfer model for Rs 7,380 crore.
The Hyderabad Metropolitan Development Authority (HMDA) had invited global competitive bids for the project, in which IRB 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 crore within a span of 120 days," IRB Infrastructure Developers Ltd said in a statement.
IRB Infrastructure Developers chairman and managing director Virendra D Mhaiskar said this project will take the company's asset base to over Rs 70,000 crore and share in toll-operate-transfer (TOT) space to 37 per cent, the largest by any private player in India.
The Hyderabad outer ring road (ORR) is a 158 kilometers, 8 lanes ring road expressway, encircling Hyderabad, Telangana.
Opened up in December 2012, the large part of around 124 km of ORR covers urban nodes like Hi-Tech City, Nanakramguda Financial District, International Airport, IKP Knowledge Park, Hardware Park, Telangana State Police Academy, Singapore Financial District and Game Village.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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