Construction engineering company IRB Infrastructure has received Letter of Award (LOA) from National Highways Authority of India (NHAI) for upgradation of Samakhiali to Santalpur Highway to 6 lanes in Gujarat. As per the filing by the company, the length of the project is 90.90 km and it will cost around Rs 2,132 crore.
The company said the highway would be upgraded on Build-Operate-Transfer (BOT) mode. 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 will be 20 years from the appointed date including 2 years of construction period.
With the latest order, the company’s order book has been revised to approximately 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 and traded at Rs 30 per share on the NSE.
The Mumbai-headquartered company recently split its equity shares of face value of Rs 10 each in the ratio of 10:1.
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