IRB Infrastructure Wins INR 7,380 Cr Contract for Hyderabad Outer Ring Road Project - News

IRB Infrastructure Developers Ltd secured a 30-year lease contract worth INR 7,380 crore for the Hyderabad Outer Ring Road (ORR) project, under the toll-operate-transfer (TOT) model. The ORR, a 158-km eight-lane motorway with access control, connects several localities and includes 19 entry points. HGCL offers commercial organizations an annual maintenance contract to maintain the ORR, generating INR 400 crore per fiscal year.
Virendra D Mhaiskar, Chairman, IRB, claimed that the project will be conducted using IRB's private infrastructure investment trust platform and that their share in the TOT area is currently 37 percent, the largest in India. IRB assets will exceed INR 70,000 crore after this project. The ORR is a road-cum-area development project that aims to build well-planned, well-connected urban settlements around the Hyderabad Metropolitan Area. During its renovation, a 4.5-meter-wide cycling track will run alongside the ORR for 22 kilometers in two stretches in western Hyderabad, connecting the city’s IT sector and rapidly emerging residential areas. HGCL will follow South Korean models. Before the November or December elections, the Telangana Government hopes to finish this unique project in 2023.