IRB Infrastructure Developers has bagged the Hyderabad Outer Ring Road (ORR) Toll-Operate-Transfer (TOT) project worth Rs 7,380 crore, with a revenue-linked concession period of 30 years. The Hyderabad Metropolitan Development Authority (HMDA) had invited global competitive bids for the project.
Four companies, including IRB Infrastructure Developers, Eagle Infra India Limited, Dinesh Chandra R Agrawal Infracon and Gawar Construction Limited, participated in the bids. HMDA had chosen IRB Infrastructure as the successful bidder and handed over a letter of award (LOA) of the lease.
Under such contracts, an existing road asset is transferred to a private concessionaire for a fixed amount in exchange for tolling rights on the section for a specified period. The company will collect tolls from road users and maintain the road for the contract duration.
The 158-km Hyderabad ORR project is an eight-lane expressway encircling Hyderabad. Around 124 km of the project will cover urban areas, including Hi-Tech city, Nanakramguda Financial District, IKP Knowledge Park, International Airport, Hardware Park, Singapore Financial District and Game Village, etc. The ORR is also connected to National Highways and State Highways.
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