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Wednesday, July 24, 2024

IRB Infrastructure Secures Preferred Bidder Status for Kota Bypass and Cable Stay Bridge Projects

IRB Infrastructure announced that a trust under its operation has been chosen as the preferred bidder for two significant projects by the National Highway Authority of India (NHAI). The projects include the Kota Bypass and Cable Stay Bridge on national highway 76 in Rajasthan and the Gwalior-Jhansi section in Madhya Pradesh and Uttar Pradesh.

The 110.28 km project, operating under the Toll-Operate-Transfer model, necessitates an upfront payment of Rs 1,683 crore to NHAI. This payment is made after securing tolling rights for a duration of 20 years, starting from financial closure, as outlined in the exchange filing.

The statement emphasizes that the project is projected to generate positive cash flow right from its inaugural year of operations. With the inclusion of this project, the trust’s asset portfolio is expected to see a 4.3% increase, reaching Rs 47,000 crore.

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