IRB Infra SPV receives appointed date from NHAI for its West Bengal BOT project; starts tolling and construction from April 02, 2022.
IRB Infrastructure Developers Ltd.’s Special Purpose Vehicle (SPV), Palsit Dankuni Tollway Pvt. Ltd., has received Appointed Date from the National Highway Authority of India (NHAI); as a result of which the Company has commenced Tolling and Construction for the project with effect 2nd April 2022.
The Company will continue to collect toll for the concession period of 17 years.
Mr. Virendra D. Mhaiskar, Chairman & Managing Director, while commenting on the development said, “This is our first project in the eastern region of India, the 10th State overall. We are grateful to all the authorities for extending their valuable support and cooperation. We would leave no stone unturned to ensure timely completion of the project with high quality and safety standards to bring the world class experience for the people of West Bengal.”
The project will be executed by IRB Infra and its associate IRB Infrastructure Trust.
Earlier, the Company had successfully achieved Financial Closure for the Rs.2,403 Crs BOT project involving 4 to 6 laning of 63.83 Kms (378 lane Kms.) stretch of NH-19 between Palsit and Dankuni in West Bengal with Rs. 1,650 Crs financing from lenders.
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