IRB Infrastructure Developers Ltd made a statement that they issued an upfront payment of Rs 7,380 crore to Hyderabad Metropolitan Development Authority (HMDA).
A couple of months back there were news regarding IRB Infra winning the TOT (Tolling, Operation, Maintenance & Transfer) project for the Nehru Outer Ring Road in Hyderabad.
Following the completion of payment, their dedicated team known as IRB Golconda Expressway Private Limited has begun the important task of collecting tolls on the Jawaharlal Nehru Outer Ring Road, affectionately known as Hyderabad ORR.
This development was confirmed by IRB Infrastructure in their statement. Virendra D Mhaiskar, the Chairman & Managing Director (CMD) of the company, expressed that they have successfully reached the financial milestone for the project earlier than expected. As a positive step, toll collection started on August 12th.
In the recent talks, He extended his sincere gratitude to HMDA, HGCL, State Bank of India, partner GIC (Singapore), and all stakeholders for their wholehearted support. The company remains committed to achieving operational excellence and delivering a premium travel experience for project users.
