IRB Infra's SPV achieves full COD for six-laning highway in Rajasthan
Aug 16, 2021
Mumbai (Maharashtra) [India], Aug 16 : CG Tollway Ltd, a special purpose vehicle of IRB Infrastructure Developers, has achieved full commercial operations date for Chittorgarh-Gulabpura six-laning highway project in Rajasthan.
The National Highway Authority of India (NHAI) has issued completion certificate. The company has become now eligible for collecting toll fees at full tariff which will be higher by 58 per cent than the existing tariffs.
Chairman and Managing Director Virendra D Mhaiskar said this is the fourth project overall and second in Rajasthan that achieved full commercial operations date during pandemic times.
Earlier, the company achieved full commercial operations date for one project each in the states of Maharashtra, Uttar Pradesh and Rajasthan.
"These projects are a part of the prestigious Golden Quadrilateral and project completion ensures a safer, quicker and comfortable commuting experience for users," said Mhaiskar.
The company had entered into a concession agreement with the National Highway Authority of India (NHAI) for a concession period of 20 years to develop, operate and maintain the Chittorgarh-Gulabpura section of NH79.
IRB Infrastructure Developers is India's largest integrated private toll roads and highways infrastructure developer with an asset base of over Rs 54,000 crore in 10 states across the parent company and two infrastructure investment trusts.
