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IRB Infra’s SPV achieves COD for its Agra Etawah road project in UP

IRB Infra’s SPV achieves COD for its Agra Etawah road project in UP

AE Tollway, the Special Purpose Vehicle of IRB Infrastructure Developers, which is now a part of IRB Infrastructure Trust – Private InvIT, has achieved COD for its Agra Etawah Bypass six laning highway project in Uttar Pradesh.

The NHAI has issued completion certificate to the Company. This will now enable the Company to collect toll at full tariffs, which will be approximately higher by 70% than existing tariffs.    

Commenting on this development, Virendra D Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers said “We are pleased to announce completion and commissioning of the Agra-Etawah bypass six lane highway project in UP. The corridor will now provide congestion free, safe and more comfortable travel to commuters with much reduced travel time.” He further added, “This is the second COD achieved within two months timeframe and we continue to look forward to completing atleast two of the three projects in Rajasthan in this Financial Year.”

To re-iterate, IRB Infrastructure Developers had earlier bagged the project of six laning of the 124 Kms section of Agra-Etawah bypass road on NH-2 in the State of Uttar Pradesh on Design, Build, Finance, Operate & Transfer (DBFOT) basis, as envisaged by the NHAI under its Phase-V of the National Highway Development Projects (NHDP). This project is a part of the Private InvIT, which will significantly benefit with cash-flows accruing from approximately 70% increase in collections.

 




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