IRB receives appointed date for Rs 828 cr HAM project in HP

MUMBAI, May 20: IRB Infrastructure Developers on Friday said it has received the appointed date from NHAI for its Rs 828 crore HAM project in Himachal Pradesh.
The Pathankot Mandi Highway, an SPV of IRB Infrastructure Developers, have received the appointed date May 18 from the National Highways Authority of India (NHAI).
“With this the company is now set to commence construction activity on the project soon,” it said in a statement issued here.
The scope of the Rs 828 crore project includes rehabilitation and upgradation to four lane configuration and strengthening of Punjab/Himachal Pradesh border to Mo stretch of 28.7 km.
The concession will comprise 730 days for construction and 15 years operations and maintenance rights thereafter.
Commenting on the development, Spokesperson, IRB Infrastructure Developers said, ?Getting appointed date is a step forward to meet deadlines with quality construction and ensuring revenue flows as envisaged. In line with our execution capacities, we are confident of timely completion of the project with world class quality and high safety standards to ensure safe and comfortable travel experience for commuters.
The company had recently achieved financial closure for the project and had tied up finances of Rs 373 crore from lenders.
The company will infuse equity of Rs 124 crore and balance Rs 331 crore will come as financial support from the nodal agency NHAI.