Press Release

IRB Infra SPV receives Appointed Date from the NHAI for its

Samakhiyali Santalpur BOT Project in the State of Gujarat; started Toll

Collection from 00.00 Hrs. today, i.e., on 28th December 2023

  • Mobilizes resources to commence construction activity on the project
  • IRB Infrastructure Trust (the Private InvIT, associate of IRB Infra) to execute the project
  • Project involves six laning of the 90.90 Kms (545 Lane Kms) section of NH27 with the concession period of 20 years with total cost outlay of Rs 2,092 Crs
  • On completion, project will bring effectual connectivity with Kandla and Mundhra Ports, and strengthen toll revenue visibility for the Company

Mumbai, December 28, 2023: The Samakhiyali Tollway Private Limited, an SPV of IRB Infrastructure Developers Ltd., India's leading and the largest multi-national integrated transport infrastructure developer in the roads and highways sector, has received an Appointed Date - 28th December 2023 - from the National Highways Authority of India (NHAI).

As a result of this, the SPV has started Toll Collection on the project from 00.00 Hrs. today, i.e., on 28th December 2023.

The SPV has also mobilized resources to commence construction activity on the project.

Speaking on the development, Mr. R. S. Sharma, Dy. CEO of the IRB Infra Group said, "Receiving

Appointed Date will allow us to start Toll Collection and Construction Activities on the project. Since this key milestone is achieved, our focus will now be on timely completion of the project with highest quality and safety standards, to bring the World Class traveling experience for users." He added, "The project is part of Jamnagar Amritsar Expressway and links commercially important Kandla and Mundhra Ports. It would therefore be playing an important role in establishing effectual and smoother mobility of heavy commercial vehicles, which will not only boost the economic growth, but also ensure better toll revenue visibility for us."

To re-iterate, Samakhiyali Santalpur BOT project is Company's overall 6th Project in the State of Gujarat and 4th Operational one at present, after successfully completing and handing over two BOT projects back to the nodal agency, a year and half ago.

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Press Release

IRB Infra had received Letter of Award for this project on 24th February 2023; signed the Concession Agreement on 12th May 2023, and achieved the Financial Closure for the project on 21st September 2023.

The highlights of the Project:

  • Length of 90.90 Kms (545 Lane Kms)
  • The project is on BOT (Toll) mode with 20 years Concession Period from the Appointed Date
  • Project cost is Rs.2,092 Crs.
  • IRB Infrastructure Trust (Private InvIT) will execute the project
  • Concessionaire SPV will bring in total equity (including internal accrual) of Rs. 646 Crs, which will be infused by IRB and GIC affiliates in the ratio of 51:49
  • Consortium of lenders to support with debt financing of Rs. 1,446 Crs

About IRB Infrastructure Developers Ltd:

IRB Infrastructure Developers Ltd (IRB) is India's first Integrated Multi-National Transport Infrastructure Developer in Roads & Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs.77,000 Crs. in 12 States across the parent company and two InvITs.

The Company has strong track record of constructing, tolling, operating, and maintaining around 18,500 lane Kms pan India in its existence of 25 years in India.

It has approx. 20% share in India's prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India. In the TOT space, the group commands a market share of around 38%.

After successfully completing 13 Concessions and handing over them to the nodal agencies, at present, IRB Group's project portfolio (including Private and Public InvIT) has now 26 road projects that include 18 BOT, 4 TOT, and 4 HAM projects.

For further details, please contact:

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Kiwishka Kaur Kalsi, Concept PR, 75068 61969 kiwishka@conceptpr.in

Vivek Devasthali, Head, Corporate Communications, 99300 80099, vivek.devasthali@irb.co.in

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Disclaimer

IRB Infrastructure Developers Ltd. published this content on 28 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2023 04:05:41 UTC.