IRB Infrastructure arm executes concession pact for Rs 6,555 cr project in UP

IRB Infrastructure Developers on Thursday said its wholly-owned arm has executed a concession pact with Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for the Rs 6,555 crore 'Ganga Expressway’ project in the state.

The total length of the project is 129.7 km, IRB Infrastructure said in a filing to BSE.

''Meerut Budaun Expressway Private Limited, wholly-owned subsidiary of the company, has now executed concession agreement with...UPEIDA for the project of development of access controlled six lane (expandable to eight lane) Greenfield 'Ganga Expressway'...in the state of Uttar Pradesh on DBFOT (Toll) basis under PPP,'' the filing said.

The company further said that the viability gap funding is Rs 1,746 crore.