On Thursday, IRB Infrastructure Developers said that its wholly-owned subsidiary had signed a concession agreement with the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for the state's Rs 6,555 crore 'Ganga Expressway' project. According to IRB Infrastructure, the project's entire length is 129.7 kilometers.
"Meerut Budaun Expressway, Private Limited, wholly-owned subsidiary of the company, has now executed a concession agreement with...UPSIDE for the project of development of access controlled six-lane (expandable to eight-lane) Greenfield 'Ganga Expressway...in the state of Uttar Pradesh on DBFOT (Toll) basis under PPP," the filing said.
The viability gap funding is Rs 1,746 crore, according to the business.
