IRB Infra emerges as the successful bidder and has received LOA for Hyderabad Outer Ring Road TOT Project in the State of Telangana

Marking its entry in the State of Telangana, IRB Infrastructure Developers Ltd. (IRB), India's leading and the largest integrated multi-national highways infrastructure developer has been awarded 158 Kms (1,264 Lane Kms) Hyderabad Outer Ring Road (ORR) project under Toll-Operate-Transfer (TOT) model with revenue linked Concession Period of 30 Years for upfront consideration of Rs. 7,380 Crores.

Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., said, "Proud to add this prestigious project to our portfolio, taking our asset base to over Rs.70,000 Crores and share in TOT space to 37%, the largest by any private player in India." He added, "We express our sincere gratitude towards all authorities and stakeholders. We endeavor to execute this project through our Pvt InvIT platform."

The Hyderabad Metropolitan Development Authority (HMDA) had invited global competitive bids for the project; in which the Company had participated and emerged as the selected bidder.

After signing the concession agreement, the project SPV will be making the payment of Rs. 7,380 Crores within a span of 120 days.

Source : Equity Bulls

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