IVRCL Assets & Holdings Ltd, a subsidiary of IVRCL Ltd, has announced that it has bagged a 127 km project of 4/6 laning of Raipur-Bilaspur section of National Highway (NH)-200 in Chhattisgarh to be executed as build, operate and transfer (BOT) (toll) project.
The Rs 1,300-crore project is based on design, build, finance, operate and transfer (DBFOT) pattern under the National Highway Development Programme (NHDP) Phase IV from the National Highways Authority of India (NHAI).
The project has a concession period of 25 years including the construction period of 30 months.
The project corridor connects the western and eastern part of India through NH 6 (Nagpur) to NH 78 (Ranchi). It includes 9.8 km of six-lane bypass and 44 km of four-lane bypass and four major bridges including a 549 metre new bridge across the river Sivnath located on the project corridor.
Mr S. Ramachandran, Director, IVRCL Assets, in a statement said that this stretch is the gateway to transportation of major raw materials and finished products relating to core sector industries in the country.
Numerous steel rolling mills and associated plants relating to sponge iron and ferro-alloy units are under operation. In addition, Chhattisgarh is expected to house power projects of cumulative capacity of 8,100 MW being promoted by NTPC, State Genco, IFFCO and other private developers.
IVRCL Assets & Holdings has 11 highway projects under its portfolio in various stages of development. It is operating three tollways and involved in the development as well as operation of cumulative length of 4,340 lane km.