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IRB Infra secures funds for ₹6,538-cr road project

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IRB Infra secures funds for ₹6,538-cr road project

Meerut Budaun Expressway, IRB Infrastructure’s wholly owned special purpose entity and subsidiary, has completed financial close on the 6,538-crore road project in Uttar Pradesh. The contract is for Group 1 of the Ganga Expressway, a greenfield road project. It will be carried out using the Build, Operate, and Transfer (BOT) approach.

The six-lane greenfield highway corridor of 129.700 km (expandable to eight lanes) between Meerut and Budaun in the state received financial backing of Rs 2,659 crore from a consortium of lenders. The proposal calls for a 30-year concession period with a six-year traffic link extension provision, as well as a three-year construction time, and construction will begin soon.

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