IRB Infra bags another Hybrid Annuity project in Gujarat

Mumbai, March 19, 2018: IRB Infrastructure Developers Ltd (IRB), India’s leading and the largest highways infrastructure developers bagged its third successive project from NHAI under Hybrid Annuity Model (HAM) in the state of Gujarat.

The Company emerged as a preferred bidder for construction of eight lanes on the Vadodara – Mumbai Expressway in the Gujarat, on the stretch having length of 23.740 Kms at the cost of Rs. 2,043 Crs.

Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We are happy to see the Company being awarded with third successive project under Hybrid Annuity in a week’s time. This has once again acknowledged thehigh trust and confidence in our domain expertise, rich experience and execution capabilities demonstrated over last two decades.”

Key highlights of the Projects are as under:

· The project is in Gujarat for eight laning of stretch of 23.740 Kms on Vadodara – Mumbai Expressway, between Padra and Vadodara, with cost outlay of Rs.2043 Crs.

· The concession will comprise 730 days for construction and 15 years Operations & Maintenance rights thereafter