IRB emerges Preferred Bidder for Ahmedabad-Vadodara project

IRB has emerged as the preferred bidder for a project to convert a 102.3km stretch of the Ahmedabad-Vadodara section of NH-8 from the existing two lanes into a six-lane highway. It has also become the preferred bidder for improvement of a 93.3km stretch of the existing Ahmedabad Vadodara Expressway. Both the projects are being offered by the NHAI (National Highways Authority of India) on a Design Build Finance Operate Transfer (DBFOT) basis. The projects have a concession period of 25 years including a construction period of three years. The NHAI (National Highways Authority of India) will get a premium of Rs. 309.60 crore which will increase by 5% on a year over year basis (YoY). The construction cost of the projects is around Rs. 3600 crore.