IRB Infrastructure Trust has emerged as the preferred bidder for the NHAI's Kota Bypass and Cable Stay Bridge project in Rajasthan and Madhya Pradesh. The project involves an upfront consideration of Rs 1,683 crore and will be cashflow positive from the first year of operations.
New Delhi, Dec 14 (PTI) IRB Infrastructure Trust on Thursday said it has emerged as the preferred bidder for NHAI's Kota Bypass and Cable Stay Bridge on NH-76 (New NH-27) in Rajasthan and Gwalior-Jhansi section in Madhya Pradesh and Uttar Pradesh, respectively.
In a statement, IRB Infrastructure Trust said the 110.28 km (441 lane km) project is under Toll-Operate-Transfer (TOT) model and involves upfront consideration of Rs 1,683 crore to be paid to the NHAI after achieving financial closure to secure tolling rights for 20 years.
According to the statement, the project will be cashflow positive from the first year of operations.
Chairman and Managing Director of IRB Infrastructure Developers Ltd Virendra D Mhaiskar said the project has strengthened IRB Infra's position further in the TOT space, which involves upfront payment of Rs 22,000 crore to the government across four projects.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback