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IRB Infra to transfer Pathankot–Amritsar highway project

Friday, 29 Sep 2017
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By 30 September 2017, IRB Infrastructure Developers will transfer its Pathankot–Amritsar highway project to IRB InvIT.

The project will be transferred at an enterprise value of Rs 1,569.33 crore, and the company will receive Rs 544 crore.

The unit holders of IRB InvIT Fund has approved the acquisition of IRB Pathankot Amritsar Toll Road (an SPV) by raising debt for a value of Rs1,569.33 crore.

The project has been developed by the company on build, operate, transfer BOT model under NHDP Phase-III, parts 102.42 km stretch of the NH-15 in Northwest India.

The concession for this project began in 2010 and is for 20 years. This is the seventh project by the company being transferred to IRB InvIT.

The concerned parties will enter into a share purchase agreement to complete the transfer process.

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