Feb 21, 2023, 04:35 pm
IRB Infrastructure Developers Ltd has been selected as the preferred bidder for the ₹2,132 crore build-operate-transfer or BOT project in Gujarat, the company said in an exchange filing on Tuesday.
The project involves adding six lanes to the 90.9 km stretch between Samakhiyali and Santalpur, with a concession period of 20 years from the appointed date.
IRB Infra, the country’s largest integrated highways infrastructure developers, said its order book will be revised to approximately ₹20,892 crore, of which the construction order book would be at ₹9,714 crore, offering significant visibility for the next two and a half years.
With this project win, IRB Group's project portfolio will now have 23 road projects, including 18 BOT(build-operate-transfer), one TOT (toll-operate-transfer), and four HAM (hybrid annuity model) projects, after successfully completing 13 Concessions and handing them over to the nodal agencies.
“We are proud to continue our winning streak in BOT space and this would be the sixth project that the company will be executing in the state of Gujarat. The present project will be an important addition to IRB portfolio as this project caters to heavy commercial traffic connecting the Kandla and Mundra port and is brownfield part of the prestigious Amritsar Jamnagar expressway,“ Virendra D. Mhaiskar, chairman and managing director, IRB Infrastructure Developers said.
The IRB group's asset base will grow to over Rs.62,000 crore, spread across 10 states via the parent company and two InvITs.