IRB Infra Wins Toll Collection Rights at Mumbai-Pune Expressway: Report

Written by
NDTV Profit Desk
Written by

NDTV Profit Desk

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New Delhi: IRB Infrastructure Developers has won a bid to develop toll collection booths at the Mumbai-Pune Expressway, according to sources.

Six bidders including IRB Infrastructure were in the fray for the assignment where the company has emerged as the winner, they said. The other five companies were Ashoka Buildcom, ILFS, Essel Infra, Patel Infra and Reliance Infrastructure.

The existing concessionaire for the country's first expressway is IRB Infrastructure.

Sources said the rate of return for IRB Infra is likely to be less than 2 per cent.

Maharashtra State Road Development Corporation (MSRDC) had invited financial bids from the six qualified companies and the last date for bid submissions was August 21.

At present, IRB Infra is in charge of operation, maintenance and toll collection on the expressway, which has five toll stations - Shedung, Khalapur, Kusgaon, Talegaon and Khalapur Connector.

The company had purchased toll collection rights with an upfront payment of Rs 918 crore in 2004 and has a 15-year concession period valid till August 8, 2019.

It also collects toll at four points on the old Mumbai-Pune highway at Sheelphata, Dehu Road, Shedung and Kusgaon.

The winning concession period for the current contract is 8 years and 10 months, according to the sources.

MSRDC also received sanction from the National Highways Authority of India for road-widening on certain stretches at Nigdi, Dehu and Panvel of the expressway.