Press Release:

IRB Infra SPV receives appointed date from NHAI for Chittoor Thachur Hybrid Annuity Project in Tamil Nadu

  • Appointed Date received as January 24, 2023

Mumbai, January 24, 2023: The Chittoor Thachur Highway Private Limited, an SPV of the IRB Infrastructure Developers Ltd. has received Appointed Date 24th January 2023 from the National Highway Authority of India (NHAI), the nodal agency for the project.

The Company has mobilized the resources and commenced construction on the project.

Commenting on the development, Spokesperson, IRB Infrastructure Developers Ltd. said, "It's an important step ahead towards meeting the deadline with high quality and safety standards for construction. We are confident of timely completion of the project to ensure safe and comfortable travel experience for commuters."

To re-iterate, the project is part of Bharatmala Pariyojana (Phase IV) and entails 6 laning of Pondavakkam Kannigaipair section of 20.060 Kms on Chittoor Thachur Highway with the cost outlay of Rs.909 Crs. The Concession period for the project is 15 Years for O&M excluding the construction span of 730 days, from the date of appointment. It involves a grant of Rs. 363.6 Crs from NHAI, equity of Rs. 116.04 Crs from the Company and Project Financing of Rs. 429.36 Crs from the lenders.

About IRB Infrastructure Developers Ltd:

IRB Infrastructure Developers Ltd (IRB) is India's first Multinational Infrastructure player in Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs.60,000 Crs. in 10 States across the parent company and two InvITs.

The Company has strong track record of constructing, tolling, operating and maintaining around 15,500 lane Kms pan India and has an ability to construct over 500 Kms in a year.

It has approx. 20% share in India's prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.

After successfully completing 13 Concessions and handing over them to the nodal agencies, at present, IRB Group's project portfolio (including Private and Public InvIT) has 22 road projects that include 17 BOT, 1 TOT and 4 HAM projects.

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For further details, please contact:

  • Vivek Devasthali, Head - Corporate Communications, 99300 80099, vivek.devasthali@irb.co.in

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Disclaimer

IRB Infrastructure Developers Ltd. published this content on 24 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 January 2023 13:36:06 UTC.