IRB starts 4-laning NH17 stretch.

Toll road developer IRB Infrastructure Developers has commenced four-laning of 189.6 km of NH17 in Karnataka. Awarded on build, operate and transfer basis by the National Highways Authority of India, the cost of the project is estimated to be Rs. 2,639 crore. The concessional period is 28 years. The company has sought Rs. 536 crore as viability gap funding from NHAI. IRB said the special purpose vehicle executing the project, IRB Westcoast Tollway, has achieved financial closure and tied up project finance of Rs. 1,406 crore from a consortium of banks.

HBL