IRB Infrastructure Developers Ltd.’s Special Purpose Vehicle (SPV), Pathankot-Mandi Highway Pvt. Ltd., has received an appointment date of 18th May 2022 from the National Highways Authority of India (NHAI).
This SPV will carry out the Rs 828 crore project to upgrade to four-lane and strengthen Pathankot-Mandi Highway in the Punjab-Himachal border area. The project is to be completed in 730 days, followed by 15 years of Operations & Maintenance (O&M) by the company.
Out of the Rs 828 crore, Rs 373 crore have been funded by lenders, Rs 124 crore will be infused through equity, and the remaining Rs 331 crore shall come as financial support from NHAI.