Press Esc to close
Thursday 30 March 2017
News updated at 10:10 AM IST

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
People  are purchasing Mango leaves and Neem leaves on the eve of Ugadi festival ...

People are purchasing Mango leaves and Neem leaves on the eve of Ugadi festival ...

A group of Marathi women, dressed in traditional attires, with placards displaying...

A group of Marathi women, dressed in traditional attires, with placards displaying...

Yakult's new brand ambassador and Bollywood actor Shilpa Shetty at a promotional event...

Yakult's new brand ambassador and Bollywood actor Shilpa Shetty at a promotional event...

King of fruits mango has arrived for sale at Eidgah Maidan near Channamma Circle in Hubballi...

King of fruits mango has arrived for sale at Eidgah Maidan near Channamma Circle in Hubballi...

Children with flowers, neem leaves and jaggery all set to welcome the New Year...

Children with flowers, neem leaves and jaggery all set to welcome the New Year...

Roads wear deserted look on Tuesday as temperature soars in Surat...

Roads wear deserted look on Tuesday as temperature soars in Surat...

Security forces chasing away local protesters who tried to disrupt an anti-militant operation...

Security forces chasing away local protesters who tried to disrupt an anti-militant operation...

Smoke billowing out of the house which was targeted by the security forces personnel for...

Smoke billowing out of the house which was targeted by the security forces personnel for...

A man carries schoolchildren on his bicycle on a road in Srinagar, India...

A man carries schoolchildren on his bicycle on a road in Srinagar, India...

Russian opposition leader Alexei Navalny, foreground, speaks to press in a court room in Moscow....

Russian opposition leader Alexei Navalny, foreground, speaks to press in a court room in Moscow....

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523