IRB Infra receives LOA for Hyderabad Outer Ring Road TOT Project
28 Apr 2023
2 Min Read
CW Team
Marking its entry in the state of Telangana, IRB Infrastructure Developers Ltd. (IRB), India鈥檚 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 73.80
billion.
Commenting on the development, Virendra D. Mhaiskar, Chairman & Managing Director, IRB
Infrastructure Developers Ltd., said, 鈥淧roud to add this prestigious project to our portfolio, taking
our asset base to over Rs 700 billion and share in TOT space to 37%, the largest by any private player
in India.鈥� He further added, 鈥淲e express our sincere gratitude towards all authorities and
stakeholders. We endeavour to execute this project through our private InvIT platform.鈥�
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 73.80 billion
within a span of 120 days.
The Hyderabad Outer Ring Road (ORR) is a 158 km, 8 lanes ring road expressway encircling
Hyderabad. Opened up in December 2012, the large part of around 124 km of ORR covers urban
nodes like Hi-Tech City, Nanakramguda Financial District, International Airport, IKP Knowledge Park,
Hardware Park, Telangana State Police Academy, Singapore Financial District and Game Village. The
ORR has well established connectivity with other important national highways and state highways.
Marking its entry in the state of Telangana, IRB Infrastructure Developers Ltd. (IRB), India鈥檚 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 73.80
billion.
Commenting on the development, Virendra D. Mhaiskar, Chairman & Managing Director, IRB
Infrastructure Developers Ltd., said, 鈥淧roud to add this prestigious project to our portfolio, taking
our asset base to over Rs 700 billion and share in TOT space to 37%, the largest by any private player
in India.鈥� He further added, 鈥淲e express our sincere gratitude towards all authorities and
stakeholders. We endeavour to execute this project through our private InvIT platform.鈥�
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 73.80 billion
within a span of 120 days.
The Hyderabad Outer Ring Road (ORR) is a 158 km, 8 lanes ring road expressway encircling
Hyderabad. Opened up in December 2012, the large part of around 124 km of ORR covers urban
nodes like Hi-Tech City, Nanakramguda Financial District, International Airport, IKP Knowledge Park,
Hardware Park, Telangana State Police Academy, Singapore Financial District and Game Village. The
ORR has well established connectivity with other important national highways and state highways.
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