IRB Infra bags Rs.3,492 cr road contracts

IRB Infrastructure Developers has bagged two road projects of Rs.3,492 crore under HAM from NHAI in Tamil Nadu. These projects marked its entry into the HAM segment as it is a leading player in the build-operate-transfer segment. The projects include four laning of 56.8 km stretch from Poondiankuppam to Sattanathpuram with cost outlay of Rs.2,196 crore and another Rs.1296 crore for four laning of 38 km from Puducherry to Poondiankuppam. Winning these two projects for the first time under the HAM model demonstrates high trust and confidence in its domain expertise and execution capabilities, said chairman and MD Virendra Mhaiskar, revealing that under the contract, the concession period will comprise 730 days for construction and 15 years operations and maintenance rights thereafter.