IRB Infrastructure Developers has completed the process of acquisition of remaining 26% stake in M.V.R. Infrastructure and Tollways (MVR). The company has completed the acquisition from its earlier promoters and other shareholders subsequent to NHAI approval. Consequently, MVR has now become wholly owned subsidiary of the company.
On Feb. 23, 2017 the company announced that Kishangarh Gulabpura Tollway Private, wholly-owned Subsidiary of the Company, has now executed Concession Agreement with NHAI for the project of Six laning of Kishangarh to Gulabpura section of NH-79A and NH-79 in the State of Rajasthan (Length 90.000km) on DBFOT (Toll) under NLIDP Phase-V Package-1.
The project is on DBFOT Pattern. The estimated project cost of the company is approximately Rs 15.30 billion. The concession period of the project is 20 years including construction period of 910 days.