IRB Infra’s SPV gets Appointed Date from NHAI for Gandeva – Ena HAM Project in Gujarat; Company to commence construction soon
The appointed date given is 9th November 2021
· The project is 27.500 Kms long stretch on Vadodara – Mumbai Expressway
· The project parts ongoing Bharatmala Pariyojana Phase-I, Package-VII
· The project cost outlay is of Rs.1,755 Crores
New Delhi: VM-7 Expressway Private Ltd., a wholly-owned subsidiary and a Special Purpose Vehicle (SPV) of IRB Infrastructure Developers Ltd., has received an Appointed Date 9th November 2021, from NHAI for its 27.500 Kms long Gandeva – Ena Hybrid Annuity project that parts upcoming Vadodara – Mumbai Expressway. With this, the SPV is now set to commence the construction work on the project soon.
Commenting on the development, Spokesperson, IRB Infrastructure Developers Ltd. said, “This is encouraging for us, as we can commence construction for the project. Getting appointed date is a step forward to meet deadlines with quality construction and ensuring revenue flows as envisaged. We are confident of timely completion of the project with world class quality and high safety standards to ensure safe and comfortable travel experience for commuters.”
Key highlights of the Project are as under:
· The project is under Govt. of India envisaged ambitious Bharatmala Pariyojana, Phase-I, Package-VII in Gujarat
· The project is for eight laning of Gandeva – Ena stretch of 27.500 Kms on upcoming Vadodara – Mumbai Expressway, with cost outlay of Rs.1,755 Crs.
· The concession will comprise 730 days for construction and 15 years Operations & Maintenance rights thereafter.
· Construction will be commenced from (date) as per the Appointed Date.
To reiterate, the Company is already constructing the 23.740 Kms stretch between Kim (Vadodara) and Padra with cost outlay of Rs. 2,043 Crs for upcoming Vadodara Mumbai Expressway.