IRB Infra SPV receives appointed date from NHAI for Pathankot Mandi Hybrid Annuity Project in Himachal Pradesh
The Pathankot Mandi Highway Pvt. Ltd., an SPV of IRB Infrastructure Developers Ltd. has received an Appointed Date 18th May 2022 from the National Highway Authority of India (NHAI).
With this the Company is now set to commence construction activity on the project soon.
Commenting on the development, Spokesperson, IRB Infrastructure Developers Ltd. said, “Getting appointed date is a step forward to meet deadlines with quality construction and ensuring revenue flows as envisaged. In line with our execution capacities, we are confident of timely completion of the project with world class quality and high safety standards to ensure safe and comfortable travel experience for commuters.”
Key highlights of the Project are as under:
- The project is Rehabilitation & Upgradation to Four Lane configuration & strengthening of Punjab/Himachal Pradesh Border to Mo stretch of 28.700 Kms
- Project cost outlay is Rs.828 Crs
- The concession will comprise 730 days for construction and 15 years Operations & Maintenance rights thereafter.
To re-iterate, the Company had recently achieved financial closure for the project and had tied up finances of Rs.373 Crs from lenders. The Company will infuse equity of Rs.124 Crs and balance Rs.331 Crs will come as financial support from the nodal agency NHAI.
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.63,000 Crs. in 10 States across the parent company and two InvITs.
The Company has strong track record of constructing over 15,500 lane Kms pan India in 3 decades 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.
At present, IRB Group’s portfolio (including Private and Public InvIT) has 23 road projects that include 18 BOT, 1 TOT and 4 HAM projects.
