IRB’s SPV, AE Tollway Pvt. Ltd. commences construction work on six laning of the Agra – Etawah bypass road in UP
* IRB’s SPV to widen 124 Kms stretch on the NH-2
* The cost of project is around Rs.2650 Crores
* Company has already achieved Financial Closure for the project
* Toll operation is for 24 years and commenced on 1st August 2016
Chennai, 04 August 2016: The AE Tollway Pvt. Ltd., a Special Purpose Vehicle of IRB Infrastructure Developers Ltd (IRB), one of the largest BOT road developers in India, has commenced construction work on the Agra – Etawah bypass road with effect from 1st August 2016.
The company has also started its Toll Operations on the road from 1st August 2016, in line with the appointed date duly communicated by the Competent Authority.
Commenting on this development, Mr.Sudhir R Hoshing, Joint Managing Director, IRB Infrastructure Developers Ltd. said “We are pleased to commence the widening work of Agra-Etawah bypass road. Once completed, the corridor will provide congestion free, safe and more comfortable travel to commuters with much reduced travel time.” He further added, “We are committed to develop the World Class road infrastructure that India needs to implement its development agenda.”
The Company has recently achieved a financial closure for the project.
To re-iterate, IRB Infrastructure Developers Ltd. had earlier bagged the Rs.2650 Crores project of six laning of the 124 Kms section of Agra-Etawah bypass road on NH-2 in the State of Uttar Pradesh. The project is on Design, Build, Finance, Operate &Transfer (DBFOT) basis, as envisaged by the NHAI under its Phase-V of the National Highway Development Projects (NHDP).
