IRB Infra
Fast tracking the highway building process in the road sector, the IRB Infrastructure Developers has recently launched the construction work on its two road projects in Karnataka and Maharashtra involving a combined investment of Rs. 4,139 crore. The first project pertains to the Rs 2,639-crore venture for the four-laning of a national highway-17 with a length of 189.6 km in Karnataka and also taken up the Rs 1,500-crore road widening project in Maharashtra and both the projects are being implemented by company's wholly-owned subsidiaries. The player had won the project on build, operate and transfer (BOT) basis from the National Highways Authority of India for a concession period of 28 years for which it has sought Rs. 536 crore as viability gap funding from NHAI. IRB Westcoast Tollway, a special purpose vehicle executing the project, has already achieved financial closure and tied up finance worth Rs. 1,406 crore from a consortium of banks.

Similarly, in the second case, the Solapur Yedeshi Tollway Private Limited, wholly-owned subsidiary of the company, has recently executed concession agreement with NHAI for the project of four laning of Solapur to Yedeshi section of NH-211 in Maharashtra under NHDP Phase IV on DBFOT (Toll) basis. In regard to this road project, the company has sought Rs 189 crore as viability gap funding from NHAI and it entailed a concession period of 29 years and construction period of 910 Days. In addition to this, the IRB Westcoast Tollway Pvt Ltd, has also received appointed date from NHAI in terms of the concession agreement for the project of four laning of Goa/Karnataka border to Kundapur section of the same highway in Karnataka under NHDP phase IV.