IRB Infrastructure Developers, through its wholly-owned subsidiary Samakhiyali Tollway Pvt Ltd, has successfully signed a concession agreement with the National Highway Authority of India (NHAI) for a significant road project worth Rs 2,132 crore.
The project entails the upgradation of the existing four-lane NH27 stretch to a six-lane road spanning 90.90 kms from Samakhiyali to Santalpur in Gujarat. The development will be carried out in the build-operate-transfer (Toll) mode. The project has a concession period of 20 years, which includes a construction period of two years.
Virendra D. Mhaiskar, Chairman & Managing Director of IRB Infrastructure Developers, emphasized the importance of executing the concession agreement as a crucial step in the project, enabling the developer to proceed to the next phase of arranging finances for its implementation.