· The project is under Package IV of Chittoor Thachur Highway and it parts the ambitious Bharatmala Pariyojana of the Govt. of India
· Project is for constructing six lanes of 20.060 Kms from Pondavakkam to Kannigaipair at a cost outlay of Rs. 909 Crores.
· Fourth Hybrid Annuity project of the Company
New Delhi: IRB Infrastructure Developers Ltd (IRB), India’s one of the leading and largest highways infrastructure developers has emerged as a preferred bidder for the construction of six lanes of 20.060 Kms Pondavakkam to Kannigaipair stretch on the upcoming Chittoor – Thachur Highway in the State of Tamil Nadu at the cost outlay of Rs.909 Crores.
Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. said, “We are happy to have another project in Tamil Nadu after the existing Omalur – Salem – Namakkal Project, which is under the BOT space.” He further added, “Winning this project has validated our integrated strengths, developed in last more than 20 years, in executing all types and sizes of highway infrastructure projects, be it under BOT, TOT, HAM or EPC, irrespective of the geographical terrains.”
Key highlights of the Projects are as under:
· The project is under Package-IV and is part of India’s ambitious ‘Bharatmala Pariyojana’.
· This is the fourth Hybrid Annuity project for Company after two in Gujarat and one in Himachal Project.
· The concession will comprise 730 days for construction and 15 years Operations & Maintenance rights thereafter
· Upon award of this project, Company’s Order Book will stand at Rs. 14,189 Crores
With this Company’s aggregate strength of Hybrid Annuity portfolio will be of approx. 640 lane kms with cost outlay of over Rs.5,500 Crores.
To recollect, the Company is already constructing two Hybrid Annuity projects in Gujarat as a part of upcoming Vadodara Mumbai 8 lanes Greenfield Expressway. Recently, the Company was awarded Pathankot Mandi Hybrid Annuity project in Himachal Pradesh.