IRB Infrastructure bagged its first NHAI Ultra Mega Ahmedabad-Vadodara Highways Project

Toll road operating company IRB Infrastructure Developers declared that it bagged its first National Highways Authority of India (NHAI) ultra mega project in highways for Ahmedabad-Vadodara. IRB Infrastructure emerged the preferred bidder for six-laning a 102-km stretch of NH-8 along the Ahmedabad-Vadodra section. It will also work for the improvement of the existing Ahmedabad-Vadodra expressway for 93 km.

IRB Infrastructure’s first ultra mega project in highways, is on design, build, finance, operate and transfer basis. IRB will also pay a premium of Rs 309.60 crore to the NHAI in the first year, which will go up by 5 per cent every year thereafter.

The Internal Rate of Return (IRR) of 15% to 17% in the back of the Ahmedabad project order is expected by IRB officials.