ANI
23 Oct 2020, 15:48 GMT+10
New Delhi [India], October 23 (ANI/NewsVoir): BSE and NSE listed IRB Infrastructure Developers Ltd (IRB) is India's leading and largest highway infrastructure developers, with an asset base of over Rs. 45,000 Crs. As per data available on BSE, Life Insurance Corporation of India has raised stake in IRB from 3.81 per cent in quarter ended June 2020, to 5.27 per cent in quarter ended September 2020.
Recently, the company had announced that Yedeshi Aurangabad BOT Project implemented by Yedeshi Aurangabad Tollway Limited ("SPY") which is now part of IRB Infrastructure Trust - Private InvIT had been issued a Completion Certificate by the Competent Authority. Consequently, the SPY would collect toll at full toll rates on this project.
Earlier, the company had also announced that VM7 Expressway Private Limited -Wholly-owned Subsidiary of the Company had executed Concession Agreement with National-highways Authority of India (NHAI) for the project of Eight lane access controlled Expressway from Km 190.000 to Km 217.500 of Vadodara Mumbai Expressway (Gandeva to Ena Section) in the State of Gujarat under Bharatmala Pariyojana (Phase I - Package VII).
"We continue to look for opportunities to expand and diversify our presence. With this win, we will enter the eastern jewel of India. We are committed to build world class highway infrastructure for the development of eastern region and to bring quality connectivity with the rest of the country," said Virendra D Mhaiskar, IRB Infra ChairmanManaging Director.
IRB Infra had recently bagged India's largest TOT (toll operate transfer) project Mumbai-Pune Expressway of Rs 8,262 crore, and has already paid the first tranche of Rs 6,500 crore as upfront sub-concession fee to Maharashtra State Road Development Corporation Ltd.
IRB Infra is the largest private highways infrastructure developer in India with an asset base of Rs. 45,000 crore across the parent company and two InvITs. The company has constructed over 12,300 lane kms across India in two decades.
IRB Infrastructure Developers Ltd (IRB) is the largest private roads and highways infrastructure developer in India, with an asset base of over Rs. 45,000 crores across the parent company and two InvITs.
The Company has strong track record of constructing over 12,300 lane Kms pan India in 2 decades and has an ability to construct over 500 Kms in a year. It has approx 20 per cent share in India's prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India.
IRB Group's portfolio comprises of 21 projects including 19 BOT, 1 TOT and 1 HAM projects. BOT segment includes 9 projects under Private InvIT with OM contracts; 3 projects under Tolling7 projects under OM contracts as a Project Manager for IRB InvIT.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article. (ANI/NewsVoir)Get a daily dose of Kolkata Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Kolkata Sun.
More InformationMOSCOW, Russia: This week, Russia became the first country to officially recognize the Taliban as the government of Afghanistan since...
CAIRO, Egypt: This week, both Hamas and Israel shared their views ahead of expected peace talks about a new U.S.-backed ceasefire plan....
WASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
DHARAMSHALA, India: The Dalai Lama is set to address a significant three-day conference of Buddhist leaders this week, coinciding with...
The summit declaration denounced the recent terrorist attack in Kashmir that triggered a military escalation between India and Pakistan...
New Delhi [India], July 7 (ANI): The X accounts of UK-based news agency Reuters, Turkish broadcaster TRT World, and China's English...
New Delhi [India], July 7 (ANI): Former Indian selector and cricketer Sarandeep Singh hailed Team India following their memorable win...
Birmingham [UK], July 7 (ANI): England captain Ben Stokes admitted his side was outclassed by a 'world-class' Indian team as the visitors...