Hyderabad Outer Ring Road Project: Construction engineering company IRB Infrastructure Developers has bagged a major infra project in Telangana. The company in a filing said that it will construct 158 km-long Hyderabad outer ring road project.
The project worth Rs 7,380 crore will constructed under the toll-operate-transfer model.
"After signing the concession agreement, the project SPV will be making the payment of Rs 7,380 crore within a span of 120 days," the company said in a filing.
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The Hyderabad outer ring road (ORR) is a 158 kilometers, 8 lanes ring road expressway. Opened up in December 2012, the large part of around 124 km of ORR covers urban nodes like Hi-Tech City, Nanakramguda Financial District, International Airport, IKP Knowledge Park, Hardware Park, Telangana State Police Academy, Singapore Financial District and Game Village.
The Hyderabad Metropolitan Development Authority (HMDA) had invited global competitive bids for the project wherein IRB Infra emerged as the selected bidder.
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"This project will take the company's asset base to over Rs 70,000 crore and share in toll-operate-transfer (TOT) space to 37 per cent, the largest by any private player in India," Virendra D Mhaiskar, chairman and MD, said.
IRB Infrastructure is the largest integrated private toll roads and highways infrastructure developer in the country. It has a major presence in the Build-Operate-Transfer (BOT) space.
