IRB Infra SPV receives appointed date from NHAI for Pathankot Mandi HAM Project in Himachal Pradesh

The Pathankot Mandi Highway Pvt. Ltd., an SPV of IRB Infrastructure Developers Ltd. has received an Appointed Date 18th May 2022 from the National Highway Authority of India (NHAI).

With this the Company is now set to commence construction activity on the project soon.

Commenting on the development, Spokesperson, IRB Infrastructure Developers Ltd. said, "Getting appointed date is a step forward to meet deadlines with quality construction and ensuring revenue flows as envisaged. In line with our execution capacities, we are confident of timely completion of the project with world class quality and high safety standards to ensure safe and comfortable travel experience for commuters."

Key highlights of the Project are as under:

- The project is Rehabilitation & Upgradation to Four Lane configuration & strengthening of Punjab/Himachal Pradesh Border to Mo stretch of 28.700 Kms

- Project cost outlay is Rs.828 Crs

- The concession will comprise 730 days for construction and 15 years Operations & Maintenance rights thereafter.

To re-iterate, the Company had recently achieved financial closure for the project and had tied up finances of Rs.373 Crs from lenders. The Company will infuse equity of Rs.124 Crs and balance Rs.331 Crs will come as financial support from the nodal agency NHAI.

Shares of IRB Infrastructure Developers Limited was last trading in BSE at Rs. 212.25 as compared to the previous close of Rs. 212.35. The total number of shares traded during the day was 91861 in over 2993 trades.

The stock hit an intraday high of Rs. 216.85 and intraday low of 200.00. The net turnover during the day was Rs. 19125227.00.

Source : Equity Bulls

Keywords

IRBInfrastructureDevelopers INE821I01014 SPV AppointedDate NHAI HAMProject HimachalPradesh