IRB Infra Wins Bid for Toll Collection at Mumbai-Pune E-way
IRB Infrastructure Developers has won the bid to develop toll collection booths at the Mumbai- Pune Expressway.
According to sources, six bidders including IRB Infrastructure, were in the fray for the assignment where it has emerged as the winner. The other five companies were Ashoka Buildcom, ILFS, Essel Infra, Patel Infra and Reliance Infrastructure.
The existing concessionaire for the country's first expressway is IRB Infrastructure.
Sources said the rate of return for IRB Infra is likely to be be less than 2 per cent.
Maharashtra State Road Development Corporation (MSRDC) had invited financial bids from the six qualified companies and the last date for bid submissions was yesterday.
At present, IRB Infra is in charge of operation, maintenance and toll collection on the Expressway, which has five toll stations -- Shedung, Khalapur, Kusgaon, Talegaon and Khalapur Connector.
The company had purchased toll collection rights with an upfront payment of Rs 918 crore in 2004 and has a 15-year concession period valid till August 8, 2019.
It also collects toll at four points on the old Mumbai- Pune highway at Sheelphata, Dehu Road, Shedung and Kusgaon.
As per the sources, the winning concession period for the current contract is 8 years and 10 months.
MSRDC also received sanction from the National Highways Authority of India for road-widening on certain stretches at Nigdi, Dehu and Panvel of the expressway.
- SC Seeks EC's Response
- Indian Woman, Son Found Murdered in US, Probe Launched
- Should Sidhu Be Allowed to Multitask?
- Aadhaar Not Needed For Mid-Day Meals
- Wonderful, Precise And Very Cool: How Do Our Money Up-Chucking Machines Work?
- "I'm Only Passing Through" 10 Leonard Cohen Songs That You Must Listen To
- Blackout For NDTV Stirs The Media
- Daily Curator: The Dominion Of Misunderstood Men Over Headlines
- Daily Curator: Of Holes Being Poked Into The Bhopal Encounter And The Origins Of Chyawanprash
- Watch: Viral Video Has Man Lighting Up A Line Of Crackers Attached To His Mouth
- Govt Staff in Bareilly Barred From Wearing Jeans, T-Shirts at Work
- Release Funds to State Bodies for Holding Matches: SC Tells BCCI
- 1984 Riots: SC Asks Govt to Give Files of 199 'Closed' Cases
- Counter-Terrorist Operations Claimed 92 Soldiers in J&K Since 2015: Govt
- PM Modi Calls Up Theresa May Over Terror Attack
- Dr Randeep Guleria Appointed New Director of AIIMS-Delhi
- MOST VIEWED
- MOST COMMENTED
- Yogi Adityanath Makes Surprise Visit To Police Station In Lucknow
- Plea Against Kejriwal: Court Raps Police for Indecisiveness
- After Shiv Sena MP's Slipper Assault, Air India Mulling Preparing No-Fly List for Unruly Passengers
- With Vikalp, Passengers on Wait List Can Tavel in Rajdhani at Mail, Express Fare