Construction engineering company IRB Infrastructure has obtained the Letter of Award (LoA) from the National Highways Authority of India (NHAI) for the upgradation of a 6-lane from Samakhiyali to Santalpur highway in Gujarat. According to a filing by the company, the project length is 90.90 km and would cost around Rs 2,132 crore.
The upgradation of the highway will be done on a build-operate-transfer (BOT) mode, the company said. Under the BOT mode, a private company plays an active role as it develops the infrastructure, operates it and maintains it for a specified number of years.
The concession period for the project would be 20 years from the appointed date including 2 years of the construction period.
With the latest order, the company’s order book stands revised to approx Rs 20,892 crore. This includes a construction order book of Rs 9,714 crore.
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Meanwhile, shares of IRB Infra traded in the green, quoting Rs 30 apiece on NSE.
The Mumbai headquartered company recently split its equity shares bearing a face value of Rs 10 each in the ratio of 10:1.
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