Irb Infrastructure Developers Limited has informed the Exchange that:"We have received an official communication from the National Highways Authority of India ("NHAI") by way of a Letter of Award ("LOA") dated January 05, 2010 whereby NHAI has accepted our Price Bid and has declared us as the "Selected Bidder" for the Project of Four Laning of Goa/Karnataka Border to Panaji - Goa stretch of NH-4A from Km 84.000 to Km 153.070 in the State of Goa on BOT Toll Basis on DBFO pattern (the "Project"). Now, the Company is required to form a Special Purpose Vehicle ("SPV") as per provisions of the bid. The Project is having concession period of 30 years and estimated cost of the Project is Rs. 800 Crores. The company has sought grant of Rs. 186.30 Crore for the Project from NHAI".
Source: NSECourtesy moneycontrol.com
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