RB signs concession agreement for ORR

HYDERABAD: IRB Golkonda Expressway Private Limited on Monday signed the concession agreement for tolling, operations and maintenance of the Jawaharlal Nehru Outer Ring Road (ORR).

“We are confident of achieving financial closure within the stipulated time frame and get appointed date for taking possession of the project,” said Virendra D. Mhaiskar, CMD.

The total service road length is about 294 km.

An upfront payment of Rs. 7,380 crore is to be made to HMDA, for a revenue-linked concession period of 30 years. IRB Infra received the letter of award for the project on April 27, a release said.