IRB Infrastructure

IRB Infrastructure Developers Ltd
Public company
Traded as
Industry Conglomerate
Founded Mumbai, India (1938)
Headquarters Mumbai, Maharashtra, India
Key people
 Virendra D. Mhaiskar (chairman & MD)
Services Engineering & Construction Projects
Revenue Increase₹17.54 billion (US$240 million)[1]
Total assets ₹20,399 million (US$280 million)[1]
Website www.irb.co.in

IRB Infrastructure Developers Ltd is an Indian highway construction company[2] headed by Virender Mhaiskar which was incorporated in 1998, with its headquartered in Mumbai.[3] It is part of the IRB Group. IRB Infrastructure, which executed the country's first build-operate-transfer (BOT) road project, is one of the largest operators of such ventures.[4] Currently it has about 3404.40 lane KM operational and about 2330.4 lane KM under development.[5] Among its notable projects are the Mumbai Pune Expressway and the Ahmedabad Vadodara Expressway[2][6]

In 2012, IRB acquired Tamil Nadu based BOT Road builder MVR Infrastructure and Tollways for ₹ 1.30 billion.[7][8]

Exonerated from the charges

On April 2018, Virendra Mhaiskar, the Chairman and Managing Director of IRB Infrastructure and all others got a clean chit from CBI[9] with regards to any sort of involvement in the murder of RTI activist Satish Shetty. They were summoned in May 2012 by CBI, suspecting a connection with the case. During the investigation, CBI had asked Mr Mhaiskar and other suspects to undergo a polygraph test. Mr Mhaiskar along with the company officials voluntarily agreed to undergo the polygraph test in which they got a clean chit from police. The company and its management officials agreed to co-operate in the investigation process as they are certain about their non-involvement in the whole process [10]

Awards And Achievements

In 2009, IRB Infra won the bid to develop the greenfield Sindhudurg Airport in the Sindhudurg district of Maharashtra on a build-operate-transfer basis.[11][12]

IRB Infrastructure Developers Ltd. has been well acknowledged for its over-all excellence and proficiency in the form of various awards and accolades. Shri Virendra D. Mhaiskar, Chairman & Managing Director of IRB, was conferred with the “Young Turk of the Year” at the 6th Edition of CNBC TV 18 India Business Leader Awards on 11 December 2010 at Mumbai.[13] The company was conferred with the CNBC TV 18 Essar Steel Infrastructure Excellence Award for second time for its high quality work implemented on the Bharuch to Surat section of NH- 8 under Highways and Bridges Category. The company also bagged the CNBC TV 18 Essar Steel Infrastructure Excellence Award in the Highways & Flyovers category for Mumbai-Pune section of NH-4 in the year 2009.[14]

IRB Infrastructure Developers Ltd. bagged a contract worth Rs 2,100 crore from NHAI for a six-lane project in Rajasthan and Gujarat. The project is to be developed on design, built, finance, operate and transfer (DBFOT) under the National Highways Development Programme (NHDP) phase V.[15]

IRB Infrastructrure Ltd won the Construction Times 2017 Award under the Best Executed Highway Project of the Year categoryfor building the Ahmedabad–Vadodara Expressway Project.[16]

BOT (Build–Operate–Transfer) Projects

IRB Infrastructures executed India’s first ever BOT (Build-Operate-Transfer) project, i.e., the Thane-Bhivandi Byepass. Over the years, BOT became their strength, and turned into one of the largest BOT portfolios (operational projects and projects under construction) in the country with a total length of around 12,000-lane km. In its kitty, IRB has difficult projects like 4-lanning of Goa-Karnataka border, Kundapur section of NH17, Agra-Etawah Byepass projec,[17] Udaipur-Rajasthan NH8 project,[18] Kaithal to Rajasthan NH152 project,[19] etc. [20]

Projects

Mumbai-Pune Expressway

IRB Infrastructure acquired the Mumbai-Pune Expressway and the Mumbai-Pune National Highway, which was concluded under the supervision of Maharashtra State Road Development Corporation (MSRDC).[21][22]

Chittorgarh And Gulabpura (six-laning project) (NH 79)

IRB achieved financial closure for its BOT project from Chittorgarh and Gulabpura. The project is an expansion of the 124.87-km section on NH79, converting from a four-lane to six-lane expressway. The concession period of this project is 20 years from the appointed date, including 910 days of construction, creating smoother transit.[23] The total funding for the project by company will be 6.9 billion and by SPV (Special Public Vehicle) tied banks will be 14 billion.[24]

Kaithal Rajasthan Project (NH 65)

IRB infrastructure developed the Kaithal-Rajasthan project (NH65). The 166.26 km-long highway became operational in 2017,andhas 20.90 km service road, 18 pedestrian underpass, 5 vehicular underpass, 5 flyovers, 13 small bridges, 71 intersections, 241 culverts and railway over bridge. The cost of production for project was 22.9 billion, including a viability gap funding of Rs2.34 billion.[25]

HAM Projects

In March 2018, IRB Infrastructure won two hybrid annuity projects under NHDP phase IV in the state of Tamil Nadu, which included four laning of NH-45A Puducherry to Poondiyankuppam and Poondiyankuppam to Sattanathapuram at a cost of Rs 2169 crore at a cost of Rs 1296 crore. The construction period is 730 days and the operation period is 15 years for the said projects.[26][27]

The company had also received a letter of award on from National Highways Authority of India for a hybrid annuity project worth Rs1,640cr under the National Highways Development Project phase VI in Gujarat. The order came after the company had emerged as the preferred bidder for the construction of the eight-lane Vadodara Kim expressway from Padra to Vadodara section of the Vadodara-Mumbai Expressway in Gujarat.[28][29]


References

  1. 1 2 "IRB Infrastructure Developers". Indiainfoline.com. 3 May 2010. Retrieved 11 September 2010.
  2. 1 2 "IRB is driving in the fast lane of highway development". Business-standard.com. Retrieved 11 September 2010.
  3. ↑ "Contact Us - IRB Infrastructure Developers Ltd. | Roads | Bridges | Tunnels | Toll Plaza | Realty Business". Irb.co.in. Retrieved 6 May 2016.
  4. ↑ "IRB Infrastructure Developers: On the growth highway". Business-standard.com. Retrieved 11 September 2010.
  5. ↑ "IRB Infrastructure Developers". Indiainfoline.com. Retrieved 11 September 2010.
  6. ↑ "IRB ties in record BOT road deal". Thomson Reuters. 2012. Retrieved 21 July 2013.
  7. ↑ "IRB Infra buys MVR Tollways for Rs.130 cr". The Hindu. Mumbai. Press Trust of India. 9 May 2012. Retrieved 18 July 2012.
  8. ↑ "IRB Infra acquires MVR Tollways for Rs 130 crore". Economic Times. Mumbai. Press Trust of India. 9 May 2012. Retrieved 21 July 2012.
  9. ↑ "RTI ACTIVIST'S MURDER: IRB INFRA CHIEF, OTHERS GET CLEAN CHIT FROM CBI". The Daily Pioneer. 17 April 2018.
  10. ↑ "IRB Infra plunges as CBI summons its Chairman". Mumbai. The Hindu. 3 May 2012. Retrieved 22 July 2012.
  11. ↑ "IRB Infra wins Sindhudurg airport bid". MoneyControl. 4 August 2009. Retrieved 18 July 2012.
  12. ↑ "Development Greenfield Airport in Sindhudurg District". IRB Infra. Retrieved 18 July 2012.
  13. ↑ "CNBC-TV18 Gives Away India Business Award 2010". bestmediainfo.com. Retrieved 14 December 2010.
  14. ↑ "About Irb Infrastructure Developers Limited". Indiamart. Retrieved 20 December 2010.
  15. ↑ "IRB infra bags Rs 2100 crore Rajasthan Gujarat Nhai project". Business Standard.
  16. ↑ "Another Jewel in the Crown: IRB Infrastructure's Ahmedabad-Vadodara expressway project conferred with Construction Times Award 2017 for the 'Best Executed Project of the Year'". News Azure. Retrieved October 17, 2017.
  17. ↑ "IRB Infrastructure Developers provides update on Thane Bhiwandi Bypass Project". Business Standard. Retrieved May 16, 2016.
  18. ↑ "IRB starts Work on Udaipur Rajasthan NH8 Project". India Today. Retrieved September 4, 2017.
  19. ↑ "IRB Infra bag ₹2,300-cr Kaithal-Rajasthan Project". The Hindu BusianessLine. Retrieved May 7, 2014.
  20. ↑ "Completed BOT Projects". IRB.
  21. ↑ "IRB wins Mumbai-Pune expressway contract". India Brand Equity Foundation. Retrieved September 10, 2014.
  22. ↑ "Endeavors of IRB Infrastructure Developers". Outlook India. Retrieved July 28, 2017.
  23. ↑ "Six-Lane Highway By IRB Infrastructure Developers To Create Smoother Transit Between Chittorgarh And Gulabpura". Millionclues. Retrieved December 11, 2017.
  24. ↑ "IRB Infra achieves financial closure for Rajasthan project". Retrieved Jan 8, 2018.
  25. ↑ "Kaithal-Rajasthan four-lane highway is now open for vehicular traffic". Pressroom.today. Retrieved Sep 12, 2017.
  26. ↑ "IRB Infrastructure rises 3% on projects win in Tamil Nadu". Moneycontrol. Retrieved Mar 14, 2018.
  27. ↑ "IRB Infra gains after bagging two projects in Tamil Nadu". Business Standard. Retrieved Mar 14, 2018.
  28. ↑ "IRB Infra bags road project worth Rs 2,043 crore from NHAI in Gujarat". Times of India. Retrieved Mar 19, 2018.
  29. ↑ "IRB Infra bags road project worth Rs 2,043 cr from NHAI in Gujarat". The Hindu BusinessLine. Retrieved March 19, 2018.
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