IRB Infra gains on bagging Rs. 2,300-cr project from NHAI.

IRB Infrastructure Developers has strengthened by 5% to Rs. 121 in an otherwise weak market after the company said it has bagged an order worth around Rs. 2,300 crore from National Highways Authority of India (NHAI).

The company has emerged as a selected bidder and received a letter of award from NHAI for the project of four laning of Kaithal - Rajasthan border section of NH-152/65 from km 33.250 to km 241.580 (design length 166 km) in the state of Haryana to be executed as BOT (Toll) on design, build, finance, operate and transfer basis (DBFOT) pattern under NHDP Phase - IV, IRB Infrastructure said in a statement.

The estimated project cost is Rs. 2,300 crore, with construction period spanning 910 days. The concession period for the same is 27 years, the company added.

IRB Infrastructure Developers has sought Rs. 234 crore viability gap funding from NHAI.

BS