IVRCL Ltd has entered into a memorandum of understanding with the Haryana Government for the development of Rai Malikapur-Kharak road corridor.
The Rs 1,605-crore project corridor will cover a stretch of 151 km of Rai Malikapur close to the Rajasthan border up to Kharak corridor and boost the north-south connectivity.
The project will achieve financial closure within six months and take about 30 months to execute, according to IVRCL Executive Director of Finance, R. Balarami Reddy.
‘This is a project which we had bagged earlier and have signed up the contract last week. Some of the issues relating to the project, including stamp duty, were sorted out and now we are on course to execute it once we achieve financial closure,’’ he told
The tollway project, which IVRCL’s erstwhile subsidiary IVRCL Assets & Holdings Ltd has bagged, includes new four-lane bypass links, several bridges and service roads.
It is to be executed under design, build, finance, operate and transfer mode. When completed, it will boost the inter-state connectivity.