IRB Infrastructure wins Rs 7,380 crore project in Telangana
The Hyderabad Metropolitan Development Authority (HMDA) had invited global competitive bids for the project. IRB Infra emerged as the selected bidder.
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Construction engineering major IRB Infrastructure has secred an order to construct 158-km long Hyderabad outer ring road for Rs 7,380 crore. The project will be execured under the toll-operate-transfer model.
The Hyderabad Metropolitan Development Authority (HMDA) had invited global competitive bids for the project. IRB Infra emerged as the selected bidder.
"After signing the concession agreement, the project SPV will be making the payment of Rs 7,380 crore within a span of 120 days," IRB the company said in a filing.
With this, the company's asset base surpasses Rs 70,000 crore, company's chairman and MD Virendra D Mhaiskar said in a statement.
In toll-operate-transfer (TOT) space, the firm's share increased to 37 per cent, the largest by any private player in India.
The Hyderabad outer ring road (ORR) is a 158 kilometers, 8 lanes ring road expressway, encircling Hyderabad, Telangana.
Opened up in December 2012, the large part of around 124 km of ORR covers urban nodes like Hi-Tech City, Nanakramguda Financial District, International Airport, IKP Knowledge Park, Hardware Park, Telangana State Police Academy, Singapore Financial District and Game Village.
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