IRB Infra’s SPV Achieves COD for its Goa-Karnataka Border Highway Project

In a recent development, IRB Westcoast Tollway Ltd., the Special Purpose Vehicle (SPV) of IRB Infrastructure Developers Ltd., commissioned its Goa/Karnataka Border – Kundapur four laning highway project. This also means that the road has now been thrown open for the vehicular traffic.

All the projects in the BOT portfolio of IRB Infrastructure, which is also India’s leading highway infrastructure developer, are now revenue-generating projects. The Goa-Karnataka border highway project is the 12th revenue-generating BOT project of the company, which makes it the largest by any private highway infrastructure developer in India.

The total length of the project is 1896.6 kms on NH-17 and the total cost of the project is Rs 3,447 crores with a concession period of 28 years. The project was allotted on the basis of converting existing 2 lanes to 4 lanes. It has a service road of 61.26 kms, 9 pedestrian underpasses, 3 vehicular underpasses, 4 flyovers, 39 small bridges, 14 major bridges, 23 intersections, 53 culverts and 3 railway over bridges and 3 toll fee plazas.

Talking about the development, the chairman & managing director of the company Mr Virendra D Mhaiskar said, “We are happy to commission the important coast highway infrastructure link between West and South India. We believe that the project would bring the world-class and safe commuting experience of the highway infrastructure in India.”

“We are grateful to all the stakeholders, external as well as internal, who left no stone unturned to achieve COD for this project,” he added.

A part of NH 17, the project is an important north-south highway link on the western coast of India. IRB Infra had bagged this project under NHDP Phase IV on Design, Build, Finance, Operate and Transfer (Toll) basis and had a Viability Gap Funding (VGF) of Rs 536.22 crores.

 

 

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