Commences toll collection and construction of project between Chittorgarh and Gulabpura
IRB Infrastructure Developers announced that CG Tollway - Wholly-owned Subsidiary of the Company, incorporated for implementation of Project of Six Lanning of 124.87 km of NH-79 between Chittorgarh and Gulabpura in the State of Rajasthan has received the Appointed Date from the Competent Authority. Accordingly, the SPV has started toll collection and construction on the Project from 04 November 2017.Key highlights of the Project are as under:
The Project is on DBFOT Pattern.
The concession period of the project is 20 years including construction period of 910 days.
The estimated cost of the Project is Rs. 2,090 crore.
The Company started toll collection on the Project from Appointed Date i.e. November 4, 2017 being Six Lanning Project.
The Company has offered premium of Rs. 228.60 crore to NHAI. The premium payment will commence after three years from the Appointed Date in terms of the Concession Agreement.
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