Infra Developers lowest bidder for NHAI project

IRB Infrastructure Developers today said it has emerged as the lowest bidder for a Rs 1,500-crore project of the National Highway Authority of India (NHAI).     

"The company has emerged as the lowest bidder" for the highway project in Rajasthan and "has sought a grant of Rs 306 crore from NHAI," IRB Infrastructure Developers detailed in a filing to the Bombay Stock Exchange.     

According to the infra developer, it had submitted its bid with the NHAI for developing road on the Jaipur to Deoli section of NH 12 (National Highway).     

"The project is on grant basis with concession period of 25 years and its estimated cost is Rs 1,500 crore," it added.     

Last week, the company had said that it has emerged as the lowest bidder for NHAI's two road projects in the states of Goa and Punjab.     

Shares of IRB Infrastructure surged over three per cent and were trading at Rs 144.20 in the afternoon trade on the BSE.