IRB Infra arm inks Rs 2,300 crore pact with NHAI for Haryana road

NEW DELHI: IRB Infrastructure today said it has entered into a pact with National Highways Authority of India ( NHAI) for a Rs 2,300 crore project for widening of a highway stretch in Haryana under National Highways Development Project ( NHDP).

"One of the largest BOT (build, operate, transfer) road developers in India, IRB Infrastructure Developer's wholly owned subsidiary Kaithal Tollway Private Limited has executed concession agreement with NHAI for the project of four laning of Kaithal-Rajasthan Border Section of NH-152/65 in Haryana under NHDP Phase - IV," the company said in a statement.

The project is to be executed on DBFOT (design, build, finance, operate and transfer) pattern with a concession period of 27 years.

"The estimated project cost is approximately Rs 2,300 crore and the construction is to be completed within 910 days," the statement said.

This project will expand the company's base in Haryana. "With this project, IRB's construction order book will increase from Rs 8,600 crore to approximately Rs 10,600 crore, to be executed in the next three to four years," the statement added.

Shares of the company closed at Rs 206.35 apiece on the BSE, up 0.78 per cent.