IRB Infrastructure Developers Ltd’s wholly-owned subsidiary IRB Ahmedabad Vadodara Super Express Tollway Pvt Ltd has executed concession agreement with NHAI for the six-laning of Ahmedabad- Vadodara section of NH-8 for a length of 102.300 km and improvement to the existing Ahmedabad- Vadodara Expressway in Gujarat for a length of 93.302 km under Phase V on design, build finance operate transfer toll basis.
The project has a concession period of 25 years. Estimated construction cost is approximately Rs 3,600 crore and the construction is to be completed within three years from the appointed date. The SPV will get tolling rights on Ahmedabad Vadodara expressway from the appointed date and on NH8 post-completion of construction.
The premium offered to NHAI on year one is Rs 309.60 crore, which will increase by 5 per cent year-on-year. The capitalised cost of the project is approximately Rs 4,920 crore.