IRB Infrastructure Developers : Infra emerges as the successful bidder and has received LOA for Hyderabad Outer Ring Road TOT Project in the State of Telangana
Published on 04/27/2023
at 09:53 am EDT - Modified on 04/27/2023
at 09:54 am EDT
IRB Infra emerges as the successful bidder and has received LOA for Hyderabad Outer Ring Road TOT Project in the State of Telangana
Project entails Tolling and O&M activities on the 158 Kms (1,264 Lane Kms) stretch for revenue linked Concession Period of 30 Years
2nd largest single asset TOT project in the country - after Mumbai Pune Expressway project - both now part of Company's Portfolio, taking company's share in TOT space to 37%
Company to make upfront payment of Rs. 7,380 Crores to the Hyderabad Metropolitan Development Authority (HMDA), upon Financial Closure
Project marks Company's entry in the State of Telangana - 11th State for the group
With this award, Company's Asset Base expands to over Rs 70,000 Crores and O&M Order Book grows by Rs. 14,500 Crores
Mumbai, April 27, 2023: Marking its entry in the State of Telangana, IRB Infrastructure Developers Ltd. (IRB), India's leading and the largest integrated multi-national highways infrastructure developer has been awarded 158 Kms (1,264 Lane Kms) Hyderabad Outer Ring Road (ORR) project under Toll-Operate-Transfer (TOT) model with revenue linked Concession Period of 30 Years for upfront consideration of Rs. 7,380 Crores.
Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., said, "Proud to add this prestigious project to our portfolio, taking our asset base to over Rs.70,000 Crores and share in TOT space to 37%, the largest by any private player in India." He added, "We express our sincere gratitude towards all authorities and stakeholders. We endeavor to execute this project through our Pvt InvIT platform."
The Hyderabad Metropolitan Development Authority (HMDA) had invited global competitive bids for the project; in which the Company had participated and emerged as the selected bidder.
After signing the concession agreement, the project SPV will be making the payment of Rs. 7,380 Crores within a span of 120 days.
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About Hyderabad Outer Ring Road (ORR) Project:
The Hyderabad Outer Ring Road (ORR) is a 158 Kilometers, 8 lanes ring road expressway encircling Hyderabad, Capital City of Telangana State. Opened up in December 2012, the large part of around 124 Kms 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. The ORR has well established connectivity with other important National Highways and State Highways.
About IRB Infrastructure Developers Ltd:
IRB Infrastructure Developers Ltd (IRB) is India's first Integrated 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.70,000 Crs. in 11 States across the parent company and two InvITs.
The Company has strong track record of constructing, tolling, operating and maintaining around 17,200 lane Kms pan India.
It has approx. 20% share in India's prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India. In the TOT space, the group commands a market share of 37%.
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 now 24 road projects that include 18 BOT, 2 TOT, and 4 HAM projects.
Vivek Devasthali, Head - Corporate Communications, 99300 80099, vivek.devasthali@irb.co.in
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IRB Infrastructure Developers Ltd. published this content on 27 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2023 13:53:07 UTC.
IRB Infrastructure Developers Limited is an India-based integrated and multinational transport infrastructure developer in the roads and highways sector, with a major presence in the build-operate-transfer (BOT) space. The Company's in-house project execution capabilities include engineering, procurement and construction (EPC) and operation and maintenance (O&M). These capabilities span across all its business verticals, like BOT, toll-operate-transfer (TOT) and hybrid annuity model (HAM). Its segments include Built, Operate and Transfer (BOT)/ Toll, Operate and Transfer (TOT), InvITs & Related Asset and Construction. The BOT/ TOT Projects segment consists of operation and maintenance of roads. The lnvITs & Related Assets segment consists of investments in units of IRB Infrastructure Trust, IRB InvlT Fund and other related assets. The Construction segment includes development and maintenance of roads. It has approximately 27 highway projects across 12 Indian States.
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IRB Infrastructure Developers : Infra emerges as the successful bidder and has received LOA for Hyderabad Outer Ring Road TOT Project in the State of Telangana
