IRB Infra subsidiary executes Concession Agreement with UPEIDA; Stock trades higher

6 Jan 2022 , 02:40 PM

Meerut Budaun Expressway Private Limited, a wholly-owned subsidiary of IRB Infrastructure Developers Limited has now executed a Concession Agreement with Uttar Pradesh Expressways Industrial Development Authority (UPEIDA).

The agreement if for the Project of development of Access Controlled Six Lane (Expandable to Eight Lane) Greenfield ‘Ganga Expressway’ [Group-1, from Km. 7+900 (Village: Bijoli.Distt: Meerut) to Km. 137+600, (Village: Nagla Barah, Distt: Budaun), Design length 129.700 Km] in the State of Uttar Pradesh on DBFOT (Toll) basis under PPP

The project length 129.7 km and cost Rs6,555cr. Concession Period & Tolling is Traffic-linked concession period of upto 36 years commencing from the appointed Date including Construction Period of 3 years.

At around 2.42 pm, IRB Infrastructure Developers Ltd was trading at Rs226.90 per share up by Rs3.7 or 1.66% from its previous closing of Rs223.20 per share on the BSE.