IRB Infrastructure Developers announced that it had been awarded the 7,380 crore toll-operate-transfer project for the 158 kilometer-long Hyderabad outer ring road.
IRB participated in the international competitive bids that the Hyderabad Metropolitan Development Authority (HMDA) had requested for the project and was ultimately chosen as the winning bidder.
IRB Infrastructure Developers Ltd. said in a statement that the project SPV would make the payment of Rs 7,380 crore within 120 days of the signing of the concession agreement.
The project would increase the company’s asset base to over Rs 70,000 crore, according to IRB Infrastructure Developers chairman and managing director Virendra D Mhaiskar, and will increase its toll-operate-transfer (TOT) market share to 37%, the most of any private player in India.
The Hyderabad outer ring road (ORR) is a 158 kilometers, 8 lanes ring road expressway, encircling Hyderabad, Telangana.
