By spending Rs 2,600 crore the Kundapur-Goa National Highway is going to be upgraded into four-lane road. The National Highways Authority of India (NHAI) and IRB Infrasgtructure Developers have signed an agreement to convert the NH 17 from the present two-lane to four-lane highway. IRB has sought a grant of Rs 536.22 crore from NHAI to execute the project.
The project will be executed on DBFOT (toll) pattern with a concession period of 28 years. The Rs 2,600 crore project cost is to be completed within 910 days from the appointed date, IRB said in a filing to the Bombay Stock Exchange.
The agreement was signed by the company through a wholly-owned subsidiary, IRB Westcoast Tollway and NHAI. The project is being developed under National Highways Development Programme (NHDP) phase IV on Design, Build, Finance, Operate and Transfer (DBFOT) basis.
The scope of work for the project involves upgradation of existing section of NH 17 between Goa-Karnataka Border and Kundapur from existing 2-lane highway to 4-lane highway. The construction is to be completed within 910 days from the appointed date or roughly 30 months and IRB InfrastructureÂ’s subsidiary will get tolling rights upon completion of construction.
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