Hyderabad Outer Ring Road Project: Construction engineering company IRB Infrastructure Developers has bagged a major infra project in Telangana. The company said in a filing that it will construct the 158-km Hyderabad Outer Ring Road project.
The Rs 7,380-crore project will be constructed under the toll-operate-transfer model.
“After signing the concession agreement, the project SPV will pay Rs 7,380 crore within 120 days,” the company said in a filing.
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The Hyderabad Outer Ring Road (ORR) is a 158 km, 8 lane Ring Road Expressway. Opened in December 2012, the bulk of the nearly 124 km ORR covers urban nodes such as Hi-Tech City, Nanakramguda Financial District, International Airport, IKP Knowledge Park, Hardware Park, Telangana State Police Academy, Singapore Financial District and Game Village .
The Hyderabad Metropolitan Development Authority (HMDA) had invited global competitive bids for the project, in which IRB Infra emerged as the selected bidder.
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“The project will take the company’s asset base to over Rs 70,000 crore and capture 37 per cent share in the toll-operate-transfer (TOT) space, the largest by any private player in India,” Virendra D Mhaiskar, chairman And the MD said. ,
IRB Infrastructure is the largest integrated private toll road and highway infrastructure developer in the country. It has a dominant presence in the Build-Operate-Transfer (BOT) space.