IRB Infrastructure Developers Ltd said on Saturday it had secured a road project worth Rs 3,600 crore (USD 813 million) which would be built in three years under the terms of the contract in Gujarat.
With the new project, the company's order book has now risen to Rs 12,000 crore, its Chairman Virendra D Mhaiskar said in a statement.
The construction and engineering firm is the first to bag the ultra mega project from the National Highway Authority of India (NHAI).
In a filing with the BSE, the company said that it was the preferred bidder for the six-laning of the Ahmedabad to Vadodara section of National Highway-8 on Design Build Finance Operate Transfer (DBFOT) Toll basis.
IRB Infrastructure Developers also said the project involves building over 102 km of the highway and improving another over 93 km stretch of the existing Ahmedabad Vadodara Expressway under Phase-V.
IRB would get tolling rights on Ahmedabad Vadodara expressway from the appointed date and has a concession period of 25 years. The premium offered to NHAI in the first year is Rs 309.60 crore which will increase by 5% YoY, it added.
Source-moneycontrol.com
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