IRB Golconda Expressway, HMDA ink pact for ORR TOT project
Project involves making upfront payment of Rs 7,380 cr to HMDA for tolling and O&M of 158 km stretch of Hyderabad ORR, over a revenue linked concession period of 30 years
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Hyderabad: The IRB Golkonda Expressway Pvt Ltd, a project SPV of India’s leading and the largest integrated multi-national infrastructure player in the highways sector, IRB Infrastructure Developers, signed the concession agreement with Hyderabad Metropolitan Development Authority (HMDA) for tolling and operations & maintenance of Nehru Outer Ring Road (ORR) on toll-operate-transfer (TOT) basis.
Virendra D Mhaiskar, CMD of the company said, “Considering our track record of more than two decades in arranging finances for large sized projects, coupled with our key strength of maintaining strict and strong financial discipline throughout, we are confident of achieving financial closure within stipulated timeframe and get appointed date for taking possession of the project.”
He added, “We look forward to bringing world class travel and project management experience for commuters and other stakeholders of the project.” To re-iterate IRB Infra had received Letter of Award for this project on 27th April 2023 after emerging the selected bidder in global competitive bids invited by the HMDA.
The project involves making upfront payment of Rs 7,380 cr to HMDA for tolling and O&M of 158 km stretch of Hyderabad ORR, over a revenue linked concession period of 30 years. It will have toll plaza at 22 interchanges, eight major bridges, 122 minor bridges, a flyover, four railway over bridges, 168 underpasses, large number of culverts & causeways. Total service road length is around 294 km.
