IRB Infrastructure Developers receives letter of award from NHAI
DSIJ Intelligence / 27 Sep 2016
IRB Infrastructure Developers will be closely watched by the investors on September 27. The company has informed the bourses that it has now received Letter of Award from NHAI for the project of Six Laning from Udaipur to Rajasthan.
IRB Infrastructure Developers will be closely watched by the investors on September 27. The company has informed the bourses that it has now received Letter of Award from NHAI for the project of Six Laning from Udaipur to Rajasthan/ Gujarat Border i.e. from km 287.400 to km 401.200 section of NH-8 in the states of Rajasthan & Gujarat on DBFOT (Toll) under NHDP Phase V (package-V). The estimated cost of the project is around 2100 crores and the concession period for the project is 21 years including construction period of 910 days. The company has offered premium of Rs 163.80 crores to NHAI as part of the concession agreement.
Shares of the company in the last 3 months have surged over 25 per cent. The scrip of IRB Infrastructure Developers on September 26 closed at Rs 256, down by 1.72 per cent.
IRB Infrastructure Developers is a road, build–operate–transfer (BOT) operator. The company's principal activity is the construction and maintenance of roads. Its business segments include Road Infrastructure Projects; Real Estate and others. It has a portfolio of over 22 Road BOT projects, out of which 14 projects are under construction.
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