Four-laning of Goa - Kundapur highway to cost Rs 2,600 crore

Bangalore - Kundapur to Goa National Highway, which stretches from Goa to Karnataka, is being upgraded and converted into a four-lane road at a cost of Rs 2,600 crore. The IRB Infrasgtructure Developers Ltd and the National Highways Authority of India (NHAI) signed an agreement for converting the NH 17 from two-lane to four-lane highway. The project will be executed on DBFOT (toll) pattern with a concession period of 28 years. The Rs 2600 crore project cost is to be completed within 910 days from the appointed date,” IRB said in a filing to the Bombay Stock Exchange. The agreement was signed by the company through a wholly-owned subsidiary, IRB Westcoast Tollway Pvt Ltd and NHAI. The project is being developed under National Highways Development Programme (NHDP) phase IV on Design, Build, Finance, Operate and Transfer (DBFOT) basis. The scope of work for the project involves upgradation of existing section of NH 17 between Goa-Karnataka Border and Kundapur from existing 2-lane highway to 4-lane highway. The construction is to be completed within 910 days from the appointed date or roughly 30 months and IRB Infrastructure’s subsidiary will get tolling rights upon completion of construction. The company has sought a grant of Rs 536.22 crore from NHAI to execute the project.