IRB starts construction on Goa/Karnataka – Kundapur BOT project

IRB Infrastructure Developers has commenced construction on Goa/Karnataka Border to Kundapur BOT Project. The company has also executed concession agreement with NHAI for another BOT project viz. 4-laning of Solapur to Yedeshi section of NH-211. Goa/Karnataka Border to Kundapur BOT Project is being implemented by the wholly-owned subsidiary of the company viz. IRB Westcoast Tollway Pvt. Ltd. This SPV has now received an Appointed Date in terms of the Concession Agreement executed with NHAI. The project involves four laning of NH17 from Km 93.7 to Km 283.3 in Karnataka. The project cost of the company is approximately ` 2,639 crore and the concession period is 28 years. Construction period for the project is 910 days. IRB has sought ` 536 crore as viability gap funding from NHAI.
“The SPV has already achieved financial closure and tied up project finance of ` 1,406 crore from a consortium of public sector banks,” the company informed.

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