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IRB Infrastructure Achieves Financial Closure For Project In Tamil Nadu

The project, estimated to cost Rs 909 crore, is a part of Bharatmala Pariyojana (Phase IV) and is for six-laning of Pondavakkam Kannigaipair section of 20.060 km on Chittoor Thachur Highway

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IRB Infrastructure Developers Ltd on Wednesday said its wholly-owned subsidiary Chittoor Thachur Highway Private Ltd has achieved financial closure for a hybrid annuity project in Tamil Nadu. 

The project, estimated to cost Rs 909 crore, is a part of Bharatmala Pariyojana (Phase IV) and is for six-laning of Pondavakkam Kannigaipair section of 20.060 km on Chittoor Thachur Highway, the company said in a statement.

The company had bagged the project under Hybrid Annuity Model (HAM) in September 2021.

Under the HAM model, the government provides 40 per cent of the project cost to the developer to start work while the remaining investment has to be made by the developer.


(PTI)