IRB Infra’s SPV achieves receives Completion Certificate for its Hapur to Moradabad Six Laning Highway Project in Uttar Pradesh

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IRB Hapur Moradabad Tollway Ltd., the Special Purpose Vehicle of IRB Infrastructure Developers Ltd., which is now a part of IRB Infrastructure Trust – Private InvIT, has received completion certificate from NHAI for its Hapur to Moradabad six laning highway project in the State of Uttar Pradesh.

Consequently, the Company can now collect toll at higher tariffs, increasing by approximately 65% over existing toll tariffs.

To re-iterate, IRB Infrastructure Developers Ltd. had earlier bagged the project of six laning of the 99.867 Kms section of Hapur to Moradabad stretch on NH-9 in the State of Uttar Pradesh on Design, Build, Finance, Operate & Transfer (DBFOT) basis with Concession Period of 22 Years.

This project is a part of the IRB Infrastructure Trust, a Private InvIT, which will significantly benefit with cash-flows accruing from approximately 65% increase in toll tariffs.