IRB Infra emerges as the successful bidder to receive the LOA for Hyderabad Outer Ring Road TOT Project in Telangana

2024-04-19 04:00:42 Industry

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New Delhi, April 28, 2023: Marking its entry in the State of Telangana, IRB Infrastructure Developers Ltd. (IRB), India's leading and the largest integrated multi-national highways infrastructure developer has been awarded 158 Kms (1,264 Lane Kms) Hyderabad Outer Ring Road (ORR) project under Toll-Operate-Transfer (TOT) model with revenue linked Concession Period of 30 Years for upfront consideration of Rs. 7,380 Crores.

Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., said, "Proud to add this prestigious project to our portfolio, taking our asset base to over Rs.70,000 Crores and share in TOT space to 37%, the largest by any private player in India." He added, "We express our sincere gratitude towards all authorities and stakeholders. We endeavor to execute this project through our Pvt InvIT platform."

The Hyderabad Metropolitan Development Authority (HMDA) had invited global competitive bids for the project; in which the Company had participated and emerged as the selected bidder.

After signing the concession agreement, the project SPV will be making the payment of Rs. 7,380 Crores within a span of 120 days.

About Hyderabad Outer Ring Road (ORR) Project:

The Hyderabad Outer Ring Road (ORR) is a 158 Kilometers, 8 lanes ring road expressway encircling Hyderabad, Capital City of Telangana State. Opened up in December 2012, the large part of around 124 Kms 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 ORR has well established connectivity with other important National Highways and State Highways.

About IRB Infrastructure Developers Ltd:

IRB Infrastructure Developers Ltd (IRB) is India's first Integrated Infrastructure player in Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs.70,000 Crs. in 11 States across the parent company and two InvITs.