IRB Infrastructure receives letter of award for road PPP project in India
IRB Infrastructure has received a letter of award from the National Highways Authority of India (NHAI) for the Six laning of Agra-Etawah section of National Highway - 2 public and private partnership (PPP) project.
The work is part of the National Highways Development Project (NHDP) Phase-V. NH-2 connects the important industrial towns of Agra, Firozabad, Mainpuri, Etawah and other towns in the South-Western part of Uttar Pradesh. The project is covered in the regions of Agra and Etawah and the total length of the road will be approximately 124.52 km (NH-2 from km 199.660 to km 323.525).
The road PPP project will be developed in build - operation - transfer (BOT - Toll) mode on a design, build, finance, operation and maintenance (DBFOM) basis. The contract will have a period of 24 years.
The company has offered a premium of Rs810 million (US$12.8 million) to the NHAI. The total project investment is estimated at Rs26.5 billion (US$412.9 million).
The road is expected to be developed in two years once construction begins.
This project was awarded in 2011 to Ramky Infra and the firm achieved financial closure in late 2012 but its contract was cancelled.
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