IRB Infrastructure Developers Ltd will develop the 129.7 Km stretch from Meerut to Badaun with a cost outlay of Rs 6,555 crore, under the Design, Bid, Finance, Operate, and Transfer (DBFOT) model.
IRB Infra has already fully completed and commissioned its 124 Kms long Agra Etawah BOT project with a cost outlay of around Rs 3,044 crore in UP.
IRB Infrastructure Developers Ltd. has received a Letter of Award from the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for developing Group-1 of the prestigious Ganga Expressway greenfield project in Uttar Pradesh (UP).
The Company will develop the 129.7 Km stretch from Meerut to Badaun under Group-1 of the four groups of the project, with a cost outlay of Rs 6,555 crores, under the Design, Bid, Finance, Operate, and Transfer (DBFOT) model with the traffic linked expandable concession period up to 36 years that includes three years for construction.
While commenting on the development, Virendra D. Mhaiskar, Managing Director of IRB Infrastructure Developers Ltd., said, “We are very happy to get the Letter of Award for this prestigious project. This will be our third project in Uttar Pradesh. It’s the testimony of our specialization in managing the large-sized BOT projects with the in-house rich domain expertise and resources, which have been instrumental and demonstrative in creating the world-class safety and quality highways infrastructure for India over the last two decades.”
“We would leave no stone unturned to excel ourselves to complete this project with high standards of safety and quality so as to commission it as per the set timelines,” he added.
IRB Infra has already fully completed and commissioned its 124 Kms long Agra Etawah BOT project with a cost outlay of around Rs 3,044 crore in UP and is in the final stages of finishing and commissioning its 99 Kms long Hapur Moradabad BOT project with a cost outlay of around Rs 3,345 crore.
“With the prestigious Ganga Expressway project coming into the company’s BOT portfolio, The total order book of the Company now stands at Rs 19,210 crore including construction order book of Rs 12,677 crore; thus, providing revenue visibility for the next three years,” the Company said.
The upcoming Ganga Expressway is a 594 km long, 6-lane wide (expandable to 8 lanes) greenfield expressway project undertaken by the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA).
It will connect Meerut on the West and Prayagraj on the East, passing through 12 districts, Meerut, Hapur, Bulandshahar, Amroha, Sambhal, Badaun, Shahjahanpur, Hardoi, Unnao, Raebareli, Pratapgarh and Prayagraj. The Greenfield Expressway is being constructed at an estimated cost of Rs 36,230 crore.