Concession Agreement signed with HMDA to develop road network

The IRB Golkonda Expressway, a Project SPV of IRB Infrastructure Developers has signed the Concession Agreement with Hyderabad Metropolitan Development Authority (HMDA) for Tolling, Operations & Maintenance of Jawaharlal Nehru Outer Ring Road, (Hyderabad ORR) in the State of Telangana on Toll-Operate-Transfer (TOT) basis. Project involves making upfront payment of Rs.7,380 Crs to HMDA for Tolling and O&M of 158 Kms stretch of Hyderabad ORR, over a revenue linked Concession Period of 30 Years

Virendra D. Mhaiskar, Chairman & Managing Director said, “It’s our honour to have this prestigious project in our portfolio. We are grateful to the authorities for expressing high trust and confidence in IRB Infra’s rich domain expertise, experience and impeccable record of executing large sized projects across varied geographical terrains of the country. Considering our track record of more than two decades in arranging finances for large sized projects, coupled with our key strength of maintaining strict and strong financial discipline throughout, we are confident of achieving financial closure within stipulated timeframe and get appointed date for taking possession of the project.” He added, “We look forward to bringing World Class travel and project management experience for commuters and other stakeholders of the project.”