irb infrastructure pune

The project length is approximately 205.40 kms, including the expressway and NH-48 section of Mumbai-Pune corridor.“We are grateful to all the authorities for recognizing the company’s rich domain expertise and experience, and showing high trust in us by once again awarding this prestigious project. Mumbai (Maharashtra) [India] June 26 (ANI/NewsVoir): CLSA is bullish on BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) listed IRB Infrastructure Developers Ltd (IRB), India's leading and largest highway infrastructure developers, with IRB MP Expressway Pvt Ltd, a special purpose vehicle (SPV) of highways infrastructure developer IRB Infrastructure Developers, has successfully achieved financial closure for the Mumbai Pune …

The company received a Letter of Acceptance (LoA) for the same from nodal agency, MSRDC.As per the concession, IRB will pay an upfront amount of Rs 6500 crores and a further staggered payment of Rs 850 crores in year 2, Rs 850 crores in year 3 and  Rs 62 crores in year 4, aggregating to Rs 8,262 crores for sub-concession period of 10 years and 2 months. Personalized, latest & breaking news"Total sub-concession fee amounts to Rs 8,262 crore, of which IRB Infra has paid MSRDC the upfront fee of Rs 6,500 crore. Talking about the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., said, “We are happy to have the prestigious Mumbai-Pune Expressway project once again in our project portfolio. We will endeavor to excel in our operations and bring safer and smoother travel experience for users of the project,” he added.One of India’s largest highways infrastructure developers, IRB Infrastructure Developers Ltd has been awarded the prestigious Mumbai-Pune Expressway project under the Toll-Operate-Toll (TOT) model. Further staggered payments of Rs 850 crore in year 2, Rs 850 crore in year 3 and Rs 62 crore in year 4 have been tied and will be made as per the concession guidelines,\" the company said.\"IRB MP Expressway Pvt Ltd, a special purpose vehicle (SPV) of India's leading and largest highways infrastructure developer, IRB Infrastructure Developers Ltd, has successfully achieved financial closure for its first and India's largest TOT project – Mumbai Pune Expressway,\" the company said in a statement.Dead, ill, recovered: Celebrities hit by coronavirusVerification email has been sent to your inbox.Please verify to complete subscription.It said the IRB has infused the entire project equity of Rs 1,438 crore upfront and with this project, IRB’s asset base grows beyond Rs 45,000 crore – the largest in Industry, it said.Japan: Fireflies dance alone in this festive season It is the first project under TOT model for IRB Infrastructure. Further staggered payments of Rs 850 crore in year 2, Rs 850 crore in year 3 and Rs 62 crore in year 4 have been tied and will be made as per the concession guidelines," the company said.Virendra D Mhaiskar, chairman and managing director said, “Achieving financial closure, amounting to a whopping Rs 6,610 crore debt for India’s largest road TOT project, in these difficult times was a massive ordeal – especially with more than half the stipulated time being tied away in lockdown. "IRB Infrastructure Developers Ltd ... ALSO READ: Rs 1000 fine for speeding on toll plaza stretch of Mumbai-Pune Expressway. The project is a greenfield project and the concession comprises 730 days for construction and 15 years operations and maintenance rights thereafter. IRB Infrastructure Developers on Thursday said it has achieved the Rs 6,610 crore financial closure for its first and India's largest TOT (toll-operate-transfer) project 'Mumbai Pune Expressway'.

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