Press Esc to close
Thursday 05 May 2016
News updated at 3:20 AM IST
Weather
Max: 36.2°C
Min : 24.5°C
In Bengaluru
Sunny day

IRB Infra signs contract with NHAI for road project in K'taka

New Delhi, Mar 26, 2013 (PTI):

IRB Infrastructure Developers Ltd today said it has signed an agreement with National Highways Authority of India (NHAI) for four-laning of NH-17 from Goa/ Karnataka Border up to Kundapur, with the project cost estimated at Rs 2,600 crore.

"The Project is to be executed on DBFOT (toll) pattern with a concession period of 28 years... Estimated project cost is approximately Rs 2,600 crore and the construction is to be completed within 910 days from the appointed date," IRB said in a filing to the BSE.

The agreement has been signed by the company through a wholly-owned subsidiary, IRB Westcoast Tollway Pvt Ltd. The project is being developed under National Highways Development Programme (NHDP) phase IV on Design, Build, Finance, Operate and Transfer (DBFOT) basis.

The company added that the scope of work for the project involves upgradation of existing section of NH-17 between Goa/Karnataka Border and Kundapur from existing 2 lane highway to 4 lane highway.

The construction is to be completed within 910 days from the appointed date and IRB Infrastructure's subsidiary will get tolling rights upon completion of construction, it further said.

The company has sought a grant of Rs 536.22 crore from NHAI to execute the project.
Meanwhile, in a separate filing, IRB Infrastructure also said that its promoter Virendra Mhaiskar has marginally increased his stake in the company to 25.11 per cent by buying shares worth Rs 5.87 crore. Before the transaction, Mhaiskar used to hold 24.95 per cent stake in the company.

The company's scrip ended the day at Rs 113.05 on the BSE, up 1.39 per cent from the previous close.


Go to Top

Photo Gallery
Anganwadi workers shouting slogans during a protest rally by members of Nikhila Odisha Anganwadi...

Anganwadi workers shouting slogans during a protest rally by members of Nikhila Odisha Anganwadi...

Laborers pack newborn chicks into crates in Jammu...

Laborers pack newborn chicks into crates in Jammu...

A Kingfisher holds a prey (fish) in its beak on the banks of Dal Lake in Srinagar...

A Kingfisher holds a prey (fish) in its beak on the banks of Dal Lake in Srinagar...

Tourists ride Shikaras as they enjoy the cool weather at Dal Lake in Srinagar...

Tourists ride Shikaras as they enjoy the cool weather at Dal Lake in Srinagar...

Painted Storks catching fish in a pond at their enclosure in Kolkata Zoo...

Painted Storks catching fish in a pond at their enclosure in Kolkata Zoo...

Indian Air Force contingent of Ex Red Flag 16-1 at Eielson Air Force Base Alaska, USA...

Indian Air Force contingent of Ex Red Flag 16-1 at Eielson Air Force Base Alaska, USA...

A Royal Bengal Tiger at its enclosure in Kolkata Zoo on Wednesday...

A Royal Bengal Tiger at its enclosure in Kolkata Zoo on Wednesday...

Plantain Crop damaged at hunsur due to haevy rain...

Plantain Crop damaged at hunsur due to haevy rain...

Sapthagiri college of Engineering  students are using  Pulsar 220 DTSl Engine designed a 12 Feet...

Sapthagiri college of Engineering students are using Pulsar 220 DTSl Engine designed a 12 Feet...

A security person walks as clouds hover over the Parliament house during the Parliament session...

A security person walks as clouds hover over the Parliament house during the Parliament session...