IRB Infrastructure acquires 6-Laning Highway Project on Rajasthan-Gujarat Border
The Indian road infrastructure has emerged as the third largest in the world, with a total length of 4.7 million kilometers! It successfully facilitates the transport between metropolitan cities, towns and villages. Road networks have now evolved to include the advantages of closed-circuit cameras, LIDAR devices, emergency medical aid, SOS booths, and many more technologies.
For ages, road development and expansion have been neglected in India. There are 53 national highways that carry 40% of the road traffic. Still, 25% of Indian villages are poorly connected to the rest of the country. A steep rise in urbanization and population has thrown a die-hard demand of well-planned roads. As a result, the Indian government is establishing numerous ventures to proliferate the road networks.
This rollout will be funded by a budget of Rs 97,000 crores over the subsequent years, with a target of 15,000 Kms in a year. IRB plans to complete 40 Kms a day. Annuity models, such as Build Order Transport (BOT) and Hybrid Annuity Model (HAM) shall be explored to achieve these targets.
Various Indian infrastructure developers are exploring these brilliant prospects. IRB Infrastructure Developers Limited is counted among the largest and prominent infrastructure developers. They’re committed to establish world-class highways and road networks in India.
IRB Developers Limited has been awarded a 6-laning highway project by the National Highway Authority of India (NHAI). The highway will be constructed on the Rajasthan-Gujarat border with a stretch of 113.8 kilometers. The project will be modeled under design, build, finance, operate and transfer basis (DBFOT) of the National Highways Development Project’s Phase-V.
Downright expenditure for the project has been predicted to be Rs 2,100 crore. The concession agreement is set for 21 years, along with the construction period of 910 days. For this endeavor, IRB infrastructure offered a premium of Rs 163.8 crore to NHAI.
IRB Infrastructure has an expertise in the development of crucial construction projects. As evident from previous projects, IRB is known to complete projects efficiently before deadline. They had earlier successfully completed two four-laning constructions between Nagpur-Hyderabad section of NH7. Back in 2005, they also undertook the maintenance and rehabilitation of an NH8 section between Vadodara and Surat. With the procurement of this project, IRB Infrastructure huddles projects worth Rs 13,000 crore. These will be executed over the next four years.
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