IRB Infrastructure Developers offers Vadodara Kim Expressway to IRB InvIT Fund

IRB Infrastructure Developers Ltd on Monday said it has offered Vadodara Kim Expressway, being developed under Hybrid Annuity Model (HAM), to IRB InvIT Fund. The Vadodara Kim stretch, which is part of Delhi-Mumbai Expressway (DME), is 23.740 km-long and has project cost outlay of Rs 2,094 crore, the company said in a statement.

The company, in its board meeting, has approved the preliminary non-binding proposal for transfer of the said project to the IRB InvIT Fund, which is a publicly offered and listed Infrastructure Investment Trust, sponsored by the company.

Under the HAM model, the government provides 40 per cent of the project cost to the developer to start work, while the remaining investments are made by the developer.