Press Esc to close
Saturday 01 November 2014
News updated at 2:02 AM IST
Weather
Max: 28.4°C
Min : 18°C
In Bangalore
Partially cloudy

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
A view of the statue of Sardar Vallabhbhai Patel on the occasion of his birth anniversary...

A view of the statue of Sardar Vallabhbhai Patel on the occasion of his birth anniversary...

Congress President Sonia Gandhi and Rahul Gandhi paying tribute to former Prime Minister...

Congress President Sonia Gandhi and Rahul Gandhi paying tribute to former Prime Minister...

Artists perform during a function on the occasion of birth anniversary of Sardar...

Artists perform during a function on the occasion of birth anniversary of Sardar...

Members of Thamizhar Vazhvurimai Koottamaippu during a protest against Sri Lankan court's...

Members of Thamizhar Vazhvurimai Koottamaippu during a protest against Sri Lankan court's...

Indian cricket players during their practice session at barabati stadium in Cuttack...

Indian cricket players during their practice session at barabati stadium in Cuttack...

Delhi Police band performs at India Gate near Amar Jawan Jyoti to salute Sardar...

Delhi Police band performs at India Gate near Amar Jawan Jyoti to salute Sardar...

Army soldiers patrolling after an IED was recovered in a gas cylinder near the Circuit House...

Army soldiers patrolling after an IED was recovered in a gas cylinder near the Circuit House...

Tourist take pictures from a boat as people bath in the Ganges river in Varanasi...

Tourist take pictures from a boat as people bath in the Ganges river in Varanasi...

Devendra Fadnavis being sworn-in as the new Maharashtra Chief Minister by Governor...

Devendra Fadnavis being sworn-in as the new Maharashtra Chief Minister by Governor...

A camel herder sits as he feeds his camels at the annual cattle fair in Pushkar, in the Rajasthan...

A camel herder sits as he feeds his camels at the annual cattle fair in Pushkar, in the Rajasthan...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523