IRB Infrastructure reaches financial closure for Pathankot Mandi Highway project
IRB Infrastructure Developers Limited, a Mumbai-based highway construction company, has achieved financial closure for the 28.7km Pathankot Mandi Highway project in Himachal Pradesh.
The company’s created a special purpose vehicle called Pathankot Mandi Highway Private Limited to execute the project, which involves the rehabilitation and upgradation to four lane configuration and strengthening of Punjab/Himachal Pradesh border to Mo from Km 11.000 to Km 42.000 of NH-20 (New NH-154) of the Pathankot-Mandi section.
IRB Infrastructure Developers is undertaking the project under a hybrid annuity mode (HAM) (Package-IA).
While the National Highways Authority of India (NHAI) bid project cost is INR 758.04 crores, the bid project cost of IRB Infrastructure Developers is INR 828 crores. The company’s bid price is INR 778.64 crores.
The Pathankot Mandi Highway project involves a grant of INR 331 crores provided by NHAI, equity of INR 124 Crores from IRB Infrastructure Developers and project financing of INR 373 crores from the lenders.
According to IRB Infrastructure Developers, the construction period of the Pathankot Mandi HPathankot ighway project is 730 days, while the operation period is 15 years starting from the commercial operation date.