ET reported that IVRCL Limited has bagged orders worth INR 2,228.94 crore, including a road project that entails widening a stretch of 311 kilometres Nechipu to Hoj in Arunachal Pradesh worth INR 1486 crore on DBFOT basis, annuity basis.

IVRCL Assets and Holdings has been awarded an INR 1,486 crore highway contract by the Ministry of Road Transport and Highways.

The ministry shall provide cash support of INR 1,004 crore to the concessionaire to implement the project. Besides widening the existing road, it also includes construction of realignments of grade intersections, major bridges, minor bridges and culverts.

Mr S Ramachandran director of IVRCL Infra Limited said that "The company would additionally put in INR 500 crore in addition to the grant of INR 1004 crore by the ministry to execute the project. The project will be jointly implemented by IVRCL Assets & Holdings Limited and Sushee Infra Private Limited, by incorporating an SPV company wherein IVRCL A&H shall hold 26% of the equity and IVRCL Ltd will undertake the construction work of the proposed project."

The concession period for the project is 17 years from the appointed date and the project is slated to be completed within a period of 54 months.

Additionally, the IVRCL group has bagged orders nearly INR 793 crore in its power, building, transportation, water and mining divisions.

(Sourced from ET)