Mumbai (Maharashtra) [India], June 1 (ANI): Udaipur Tollway Ltd, the special purpose vehicle of IRB Infrastructure Developers Ltd, has achieved full commercial operation date (COD) for its Udaipur-Gujarat border six laning highway project in Rajasthan.
The National Highway Authority of India (NHAI) has issued completion certificate to the company. This will now enable Udaipur Tollway to collect toll at full tariffs, which will be higher by 55 per cent than the existing tariffs.
Virendra D Mhaiskar, Chairman and Managing Director of IRB Infrastructure Developers Ltd, said the corridor will provide congestion free, safe and comfortable travel to commuters with much reduced travel time.
"This is our third project in line that achieved full COD during difficult times of Covid-19 pandemic. The previous two were Yedeshi-Aurangabad in Maharashtra and Agra-Etawah in Uttar Pradesh.
"We continue to look forward to completing one more project in Rajasthan in coming days," said Mhaiskar.
The company had entered into a concession agreement with NHAI for a concession period of 21 Years to develop, operate and maintain the Udaipur to Rajasthan-Gujarat border section of NH-8 project which is a part of Golden Quadrilateral Project.
Under the concession agreement, the SPV was entrusted to expand a 113.8 km section of NH 8 which starts from Udaipur and ends in Gujarat from four lanes to six lanes on a design, build, finance, operate and transfer basis.
NH 8 is one of the busiest highways in the subcontinent as it connects the national capital Delhi to the financial capital Mumbai. The other major cities along the way include Gurugram, Jaipur, Ajmer, Udaipur, Ahmedabad, Vadodara and Surat.
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. (ANI)