IRB Infrastructure Developers Ltd (IRB Infra) informed the exchanges today that the Project implemented by wholly-owned SPV of the Company viz. IRB Westcoast Tollway Limited (SPV), has been issued a Provisional Completion Certificate by the Competent Authority. Consequently, the SPV has commenced toll collection on the Project.
The details of the project are as under:
The Project is of Four Laning of Goa/Karnataka Border to Kundapur section of NH-17 from Km 93.700 to Km 283.300 in the State of Karnataka under NHDP phase IV on Design, Build, Finance, Operate and Transfer (Toll) Basis (the “Project”)
The concession period of the project is 28 years
Cost of the project is approximately Rs3,447cr
The company had bagged this project on Viability Gap Funding (VGF) basis and sought Viability Gap Funding of Rs536.22cr from NHAI
Stock view:
IRB Infrastructure Developers Ltd is currently trading at Rs106.40 down by Rs4.2 or 3.8% from its previous closing of Rs110.60 on the BSE.
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