IRB Infra SPV receives Appointed Date from the NHAI for its Samakhiyali Santalpur BOT Project

The Samakhiyali Tollway Private Limited, an SPV of IRB Infrastructure Developers Ltd., India's leading and the largest multi-national integrated transport infrastructure developer in the roads and highways sector, has received an Appointed Date - 28th December 2023 - from the National Highways Authority of India (NHAI).

As a result of this, the SPV has started Toll Collection on the project from 00.00 Hrs. today, i.e., on 28th December 2023.

The SPV has also mobilized resources to commence construction activity on the project.

Speaking on the development, Mr. R. S. Sharma, Dy. CEO of the IRB Infra Group said, "Receiving Appointed Date will allow us to start Toll Collection and Construction Activities on the project. Since this key milestone is achieved, our focus will now be on timely completion of the project with highest quality and safety standards, to bring the World Class traveling experience for users." He added, "The project is part of Jamnagar Amritsar Expressway and links commercially important Kandla and Mundhra Ports. It would therefore be playing an important role in establishing effectual and smoother mobility of heavy commercial vehicles, which will not only boost the economic growth, but also ensure better toll revenue visibility for us."

To re-iterate, Samakhiyali Santalpur BOT project is Company's overall 6 th Project in the State of Gujarat and 4th Operational one at present, after successfully completing and handing over two BOT projects back to the nodal agency, a year and half ago.

IRB Infra had received Letter of Award for this project on 24th February 2023; signed the Concession Agreement on 12th May 2023, and achieved the Financial Closure for the project on 21st September 2023.

The highlights of the Project:

- Length of 90.90 Kms (545 Lane Kms)
- The project is on BOT (Toll) mode with 20 years Concession Period from the Appointed Date
- Project cost is Rs.2,092 Crs.
- IRB Infrastructure Trust (Private InvIT) will execute the project
- Concessionaire SPV will bring in total equity (including internal accrual) of Rs. 646 Crs, which will be infused by IRB and GIC affiliates in the ratio of 51:49
- Consortium of lenders to support with debt financing of Rs. 1,446 Crs

Source : Equity Bulls

Keywords

SamakhiyaliTollway SPV IRBInfrastructureDevelopers AppointedDate NHAI