IRB Infrastructure Developers Limited India’s leading and largest multinational integrated infrastructure developer in the highways sector has announced that its subsidiary, Samakhiyali Tollway Private Limited has successfully achieved financial closure for the Samakhiyali Santalpur BOT Highway project in the State of Gujarat.
Samakhiyali Tollway Private Limited has secured the necessary financial backing to proceed with the upgradation of NH-27 from Samakhiyali to Santalpur section, covering a total length of 90.90 kilometres, equivalent to 546 lane kilometres and will be executed under the Design, Build, Finance, and Transfer BOT (Toll) mode. The total project cost stands at Rs 2,092 crore with an EPC cost of Rs 2,031 crore (including GST) and Rs 1,721 crore (excluding GST). The concession period is set at 20 years from the appointed date, inclusive of a 2-year construction period.
The consortium of lenders has extended debt support of Rs 1,446 crore for the project. The remainder of the funding will come from equity contributions and internal accruals from the concessionaire. The concessionaire is set to infuse equity of Rs 646 crore. The project will be executed through IRB Infra’s associate, the IRB Infrastructure Trust.
With the achievement of financial closure for all projects in its portfolio, IRB Infrastructure Developers is now poised to focus on execution and bidding for upcoming opportunities. The company secured the project through the highest bid and signed the concession agreement with NHAI on May 12, 2023.
The scrip opened at Rs 29.84 and currently, it is trading at Rs 29.82, up by 0.85%. It has a 52-week high of Rs 35 and a 52-week low of Rs 19.82. Over the past one year shares of the company have increased in value by 33.10%. The company has a market capitalization of around Rs 18,000 crore.
IRB Infrastructure Developers Ltd is India’s first Integrated multinational infrastructure player in the highways segment. With an asset base of over Rs 70,000 crore in 11 states across the parent company and two InvITs. IRB has a strong track record of constructing over 17,200 lane kilometres across India in three decades with the capacity to construct over 500 kilometres in a year. The company holds approximately 20% share in India’s prestigious Golden Quadrilateral project, the largest by any private infrastructure developer in India.
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