Award Bagged!

03 Aug 2020 CW Staff

Photo: For representational purpose

IRB Infrastructure Developers (IRB) have received a Letter of Award (LoA) from the National Highway Authorities of India (NHAI) for 27.500 km long Gandeva-Ena section of the upcoming greenfield project of eight-lane Vadodara-Mumbai Expressway.

听

While commenting on the development,听Virendra D Mhaiskar, Chairman & Managing Director,听said, 鈥淲e are happy to receive the LoA from NHAI; the second one for the stretch on prestigious Vadodara-Mumbai Expressway project under Bharatmala Pariyojana. Receiving LoA will now enable us to initiate further necessary actions in signing the Concession Agreement as well as achieving the financial closure for the project so as to receive appointed date and commence construction activity.鈥� He further added, 鈥淚t is a testimony to IRB鈥檚 capabilities, domain expertise, strict financial discipline demonstrated over last two decades in developing the world-class highways infrastructure across the nation. We would continue to excel in our operations and would endeavour to complete the project in stipulated time span.鈥澨�

听

The company has emerged as the preferred bidder for the said project under Hybrid Annuity, with the project bid cost of Rs 17.55 billion having the Concession period of 15 years, including 730 days construction period.

听

Key highlights of the project

The Gandeva-Ena HAM project (Package-VII) is part of India鈥檚 ambitious 鈥楤haratmala Pariyojana鈥� of the NHAI under Phase-I.
It is a greenfield project of eight-laning of 27.500 km section on upcoming Vadodara-Mumbai Expressway.听听
On receiving the LoA, the company鈥檚 order book now stands at Rs 137.55 billion.

To recollect, the company is also constructing another stretch on this prestigious expressway project between Padra and Vadodara having length of 23.740 km with cost outlay of Rs 20.43 billion.

Photo: For representational purposeIRB Infrastructure Developers (IRB) have received a Letter of Award (LoA) from the National Highway Authorities of India (NHAI) for 27.500 km long Gandeva-Ena section of the upcoming greenfield project of eight-lane Vadodara-Mumbai Expressway.听While commenting on the development,听Virendra D Mhaiskar, Chairman & Managing Director,听said, 鈥淲e are happy to receive the LoA from NHAI; the second one for the stretch on prestigious Vadodara-Mumbai Expressway project under Bharatmala Pariyojana. Receiving LoA will now enable us to initiate further necessary actions in signing the Concession Agreement as well as achieving the financial closure for the project so as to receive appointed date and commence construction activity.鈥� He further added, 鈥淚t is a testimony to IRB鈥檚 capabilities, domain expertise, strict financial discipline demonstrated over last two decades in developing the world-class highways infrastructure across the nation. We would continue to excel in our operations and would endeavour to complete the project in stipulated time span.鈥澨齌he company has emerged as the preferred bidder for the said project under Hybrid Annuity, with the project bid cost of Rs 17.55 billion having the Concession period of 15 years, including 730 days construction period.听Key highlights of the projectThe Gandeva-Ena HAM project (Package-VII) is part of India鈥檚 ambitious 鈥楤haratmala Pariyojana鈥� of the NHAI under Phase-I.It is a greenfield project of eight-laning of 27.500 km section on upcoming Vadodara-Mumbai Expressway.听听On receiving the LoA, the company鈥檚 order book now stands at Rs 137.55 billion.To recollect, the company is also constructing another stretch on this prestigious expressway project between Padra and Vadodara having length of 23.740 km with cost outlay of Rs 20.43 billion.

Infrastructure Urban

13 Jun 2025

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..

Infrastructure Urban

13 Jun 2025

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Infrastructure Urban

13 Jun 2025

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..