RB Infra’s SPV achieves COD for its Goa-Karnataka border highway project
Mumbai, Maharashtra, India
IRB Westcoast Tollway Ltd., the Special Purpose Vehicle of India’s leading and largest highway infrastructure developer, IRB Infrastructure Developers Ltd., has commissioned its Goa/Karnataka Border - Kundapur four laning highway project; thus, now opened for the vehicular traffic.
Starts tolling in line with the provisional completion certificate received from NHAI
Project has concession life of 28 years
All projects in Company’s BOT portfolio are now Revenue Generating
With this project getting commissioned, all the projects in Company’s BOT portfolio are now revenue generating projects.
Speaking on the occasion, The Chairman & Managing Director of the Company Mr. Virendra D. Mhaiskar said, “We are happy to commission the important coast highway infrastructure link between West and South India. We believe that the project would bring the world class and safe commuting experience of the highway infrastructure in India.” He further added, “We are grateful to all the stakeholders, external as well as internal, who left no stone unturned to achieve COD for this project.”
Key features of the project:
Total portfolio of 12 revenue generating BOT projects; the largest by any private highway infrastructure developer in India.
Total project length 1896.6 Kms, section on NH 17
Project cost is Rs. 3,447 Crores; with the Concession period of 28 years
The project is conversion of existing 2 lanes into 4 lanes
The project has service road of 61.26 km; 9 pedestrian underpasses; 3 vehicular underpasses; 4 flyovers; 39 small bridges; 14 major bridges; 23 intersections; 573 culverts; and 3 railway over bridges and 3 toll fee plazas
To re-iterate, the Goa/Karnataka Border – Kundapur stretch of 189.6 Kms is part of NH – 17, which is the important north-south highway link on the western coast of India. The Company had bagged this project under NHDP Phase IV on Design, Build, Finance, Operate and Transfer (Toll) basis and had a Viability Gap Funding (VGF) of Rs. 536.22 Crores.