BSE and NSE listed IRB Infrastructure Developers Ltd. (IRB), India's leading and largest highway infrastructure developers, with an asset base of over Rs 45,000 crore, has bagged Rs 2,193 crore highway project in West Bengal under the Bhartmala Pariyojna.
The company said the project for widening of 63.83 km stretch on National Highways-19 is its first project in eastern India and marks its entry in the ninth state in the country. The section is part of the Golden Quadrilateral Project.
"The company has emerged as a preferred bidder for BOT (build, operate, transfer) project of 6 lng of the national corridor NH-19 from Dankuni to Palsit stretch of 63.83 kms in West Bengal, with a project cost of Rs. 2,193.23 crores," IRB Infra said in a statement.
The project is on design, build, finance, operate, and transfer (DBFOT) pattern, and the concession period is 17 years, including construction period of 910 days, it added.
"We continue to look for opportunities to expand and diversify our presence. With this win, we will enter the eastern jewel of India. We are committed to build world-class highway infrastructure for the development of the eastern region and to bring quality connectivity with the rest of the country," IRB Infra Chairman and Managing Director Virendra D Mhaiskar said.
With the award of this project, the company's March 2020 order book stands updated at about Rs. 14,600 crore, the statement said.
IRB Infra had recently bagged India's largest TOT (toll operate transfer) project Mumbai-Pune Expressway of Rs 8,262 crore, and has already paid the first tranche of Rs 6,500 crore as upfront sub-concession fee to Maharashtra State Road Development Corporation Ltd.
IRB Infra is the largest private highways infrastructure developer in India with an asset base of Rs 45,000 crore across the parent company and two InvITs. The company has constructed over 12,300 lane kms across India in two decades.
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( With inputs from ANI )