Group 1 of Ganga Expressway is 129.700 Kms stretch from Meerut to Badaun
Cost outlay of the Project is INR 6,555 Crs, with grant of INR 1,746 Crs
IRB Infrastructure Developers Ltd. has received a Letter of Award from the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), the nodal agency entrusted to monitor the project development, for developing the Group 1 of the prestigious Ganga Expressway Greenfield BOT Project in the State of Uttar Pradesh.
The Company will develop the 129.700 Kms stretch from Meerut to Badaun under Group 1 of the four groups of the project, with cost outlay of INR 6,555 Crores, under the Design, Bid, Finance, Operate & Transfer (DBFOT) model with the traffic linked expandable Concession period up to 36 years that includes 3 years for construction.
While commenting on the development Mr. Virendra D. Mhaiskar, Chairman & Managing Director of IRB Infrastructure Developers Ltd. said, “We are very happy to get the Letter of Award for this prestigious project. This will be our third project in the State of Uttar Pradesh. It’s the testimony of our specialization in managing the large sized BOT projects with the in-house rich domain expertise and resources, which have been instrumental and demonstrative in creating the world class safety and quality highways infrastructure for India over last two decades.” He further added, “We would leave no stone unturned to excel ourselves to complete this project with high standards of safety and quality so as to commission it as per the set timelines.”
To re-iterate, IRB Infra has already fully completed and commissioned its 124 Kms long Agra Etawah BOT project with cost outlay of around INR 3,044 Crores in the State of Uttar Pradesh; and is in in final stages of completing and commissioning its 99 Kms long Hapur Moradabad BOT project with cost outlay of around INR 3,345 Crores.
With prestigious Ganga Expressway project coming into Company’s BOT portfolio, The total order book of the Company now stands at Rs.19,210 Crores including construction order book of Rs.12,677 Crores; thus, providing revenue visibility of next three years.
The upcoming Ganga Expressway is 594 km long, 6-lane wide (expandable to 8 lanes) Greenfield Expressway Project undertaken by the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA). It will connect Meerut on the West and Prayagraj on the East of the State and will pass through 12 districts of the State, viz., Meerut, Hapur, Bulandshahar, Amroha, Sambhal, Badaun, Shahjahanpur, Hardoi, Unnao, Raebareli, Pratapgarh and Prayagraj. The Greenfield Expressway is being constructed at an estimated cost of approx. Rs.36,230 Crores.
IRB Infrastructure Developers Ltd (IRB) is the largest private roads and highways infrastructure developer in India, with an asset base of over Rs. 61,000 Crs. across the parent company and two InvITs.