Toll road operating company IRB Infrastructure Developers said it has emerged the preferred bidder for six-laning a 102-km stretch of NH-8 along the Ahmedabad-Vadodra section, besides improvement of the existing Ahmedabad-Vadodra expressway for 93 km.
The estimated project cost is Rs 3,600 crore. The six-laning contract, said to the first ultra mega project in highways, is on design, build, finance, operate and transfer basis. IRB said the concession period was 25 years.
IRB will also pay a premium of Rs 309.60 crore to the NHAI in the first year, which will go up by 5 per cent every year thereafter.