Joint Venture30 May 2025, 08:24 pm
IRB Infrastructure Developers Ltd. Approves Project Implementation Agreements with IRB InvIT Fund for Approx. Rs. 4,466 Crores
AI Summary
IRB Infrastructure Developers Ltd. has approved to enter into Project Implementation/Management Agreements (PIA) with IRB InvIT Fund. The agreements are for acting as the Project Manager for the projects operated by IRB Hapur Moradabad Tollway Limited, Kaithal Tollway Limited, and Kishangarh Gulabpura Tollway Limited. The total cost is approximately Rs. 4,466 crores on a fixed price basis, inclusive of applicable taxes, over the balance concession period with a weighted average life of 20 years. The appointment is proposed to become effective upon completion of the transfer of 100% of the equity share capital of each of the Project SPVs from the IRB Infrastructure Trust to the IRB InvIT Fund.
Key Highlights
- IRB Infrastructure Developers Ltd. has approved to enter into Project Implementation/Management Agreements (PIA) with IRB InvIT Fund.
- The agreements are for acting as the Project Manager for the projects operated by IRB Hapur Moradabad Tollway Limited, Kaithal Tollway Limited, and Kishangarh Gulabpura Tollway Limited.
- The total cost is approximately Rs. 4,466 crores on a fixed price basis, inclusive of applicable taxes, over the balance concession period with a weighted average life of 20 years.
- The appointment is proposed to become effective upon completion of the transfer of 100% of the equity share capital of each of the Project SPVs from the IRB Infrastructure Trust to the IRB InvIT Fund.
- This is a joint venture between IRB Infrastructure Developers Ltd. and IRB InvIT Fund.