IRB Infrastructure Developers Ltdemerged as the successful bidder and has received LOA for Hyderabad Outer Ring Road TOT Project, marking its entry in the State of Telangana. India’s leading and the largest integrated multi-national highways infrastructure developer has been awarded 158 km (1,264 lane km) 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 crore.
Commenting on the development, Virendra D. Mhaiskar, Chairman and 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 crore and share in TOT space to 37 per cent is the largest by any private player in India.” 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 crore within a span of 120 days.