IRB Infrastructure Developers Approves Project Implementation Agreements for Tollway Projects
IRB Infrastructure Developers Ltd has approved entering into Project Implementation Agreements (PIA) with IRB InvIT Fund and related project Special Purpose Vehicles (SPVs). The agreements concern taking on the role of Project Manager for two major tollway projects: Solapur Yedeshi Tollway Limited (SYTL) and CG Tollway Limited (CGTL).The Board of Directors, meeting on July 2, 2026, sanctioned these PIAs. The arrangements involve managing both the SYTL project in Maharashtra and the CGTL project in Rajasthan.
According to the details provided for the agreements, the Project Implementation Arrangement involves a fixed price consideration of approximately Rs. 2,663 crore (inclusive of applicable taxes) covering the balance concession period. The projects have an estimated weighted average life of approximately 18 years.
Project Scope and Details
The PIAs relate to specific road infrastructure projects under National Highways Development Programme (NHDP). Key details regarding the involved entities and projects are as follows:| Project SPV | Project Description | Location & Scope |
|---|---|---|
| Solapur Yedeshi Tollway Limited (SYTL) | Four Laning of Solapur to Yedeshi section of NH-211 | Design Length 98.717 km in Maharashtra under NHDP Phase IV (DBFOT Toll basis). |
| CG Tollway Limited (CGTL) | Six Laning of Kishangarh Udaipur Ahmedabad Section of NH-79 | From km 90.000 to km 214.870 in Rajasthan under NHDP Phase -VonBOT (Toll) mode. |
The agreement mandates that the appointment of IRB Infrastructure Developers Ltd as the Project Manager is proposed to be effective upon the completion of transferring 100% equity share capital of each Project SPV from IRB Infrastructure Trust to the Public InvIT.
The parties involved in these agreements include Solapur Yedeshi Tollway Limited (SYTL) and CG Tollway Limited (CGTL). These projects are not related party transactions under SEBI regulations, and neither SYTL nor CGTL are related to the company's promoter or promoter group.
IRB Stock Price Movement
IRB Infrastructure Developers Limited shares edged higher today, closing at ₹21.42 after gaining 0.70%. The equity saw active trading as it settled amid a volume of 11.65 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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