IRB Infra signs agreemnt with NHAI for four-laning of NH-17 in Goa

IRB Infrastructure Developers Ltd has signed an agreement with National Highways Authority of India (NHAI) for four-laning of NH-17 from Goa/ Karnataka Border up to Kundapur, with the project cost estimated at Rs 2,600 crore.

The Project is to be executed on DBFOT (toll) pattern with a concession period of 28 years. Estimated project cost is approximately Rs 2,600 crore and the construction is to be completed within 910 days from the appointed date.

The agreement has been signed by the company through a wholly-owned subsidiary, IRB Westcoast Tollway Pvt Ltd. The project is being developed under National Highways Development Programme (NHDP) phase IV on design, build, finance, operate and transfer (DBFOT) basis.

The company added that the scope of work for the project involves upgradation of existing section of NH-17 between Goa/Karnataka Border and Kundapur from existing 2 lane highway to 4 lane highway.

The construction is to be completed within 910 days from the appointed date and IRB Infrastructure’s subsidiary will get tolling rights upon completion of construction, it further said.

The company has sought a grant of Rs 536.22 crore from NHAI to execute the project.