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IRB Westcoast Tollway signs concession agreement with NHAI

Tuesday, 26 Mar 2013

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IRB Westcoast Tollway (SPV), a wholly-owned subsidiary of IRB Infrastructure Developers has signed a concession agreement with NHAI for widening of road project.

IRB Westcoast Tollway signed concession agreement for four laning of Goa/Karnataka Border to Kundapur section of NH-17 from Km 93.700 to Km 283.300 in Karnataka under NHDP phase IV on DBFOT (Toll) basis. Scope of work involves upgradation of existing section of NH-17 between Goa/Karnataka Border and Kundapur from existing two lane highway to four lane highway. The construction of the project estimated to cost approx. Rs 2,600 crore is to be completed within 910 days from the appointed date.

The project is to be executed on DBFOT pattern with a concession period of 28 years. IRB Westcoast Tollway will get tolling rights on NH-17 upon completion of construction. The grant sought by the SPV from NHAI is Rs 536.22 crore.