IRB Infra SPV Receives Appointed Date From NHAI For Chittoor Thachur Hybrid Annuity Project

The National Highway Authority of India has given the appointed date to IRB Infrastructure Developers for the Chittoor Thachur Hybrid Annuity Project in Tamil Nadu. NHAI is the nodal agency for the project. The Chittoor Thachur Highway Private Limited, an SPV of the IRB Infrastructure Developers, has received the appointed date 24 January 2023. 

This has been stated by IRB Infra on Tuesday through an official statement, According to the company, it has mobilised the resources and commenced the construction on the project. 

The official spokesperson of the company informed, “It’s an important step ahead towards meeting the deadline with high quality and safety standards for construction. We are confident of timely completion of the project to ensure a safe and comfortable travel experience for commuters.”  

It may be mentioned here that the Chittoor Thachur Hybrid Annuity Project is a part of the Bharatmala Pariyojana Phase I) and entails six laning of Pondavakkam Kannigaipair section of 20.060 Kms on Chittoor Thachur Highway in Tamil Nadu, with the cost outlay of Rs 909 crore.

The Concession period for the project is 15 Years for O&M, excluding the construction span of 730 days, from the date of appointment. 

It involves a grant of Rs 363.6 crore from NHAI, equity of Rs 116.04 crore from the company and Project Financing of Rs. 429.36 crore from the lenders.