Kishangarh - Gulabpura stretch on NH-79

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Project involves 6 laning of 90 Km stretch on NH-79 between Kishangarh and Gulabpura in Rajasthan. KG Tollway Pvt Ltd, a Special Purpose Vehicle (SPV) of IRB Infrastructure Developers Ltd, is undertaking the project. The concession contract was awarded by National Highway Authority of India to IRB Infrastructure following a competitive bidding process based on the highest premium paid to government on annual basis - Rs.186.30 crores ($28.96 million). Payment of this premium will commence after three years from the appointed date (Feb 21, 2018). Thus there is no payment outgo on account of premium in the initial three years. The project concession will be for 20 years during which period the concessionaire will recoup its investment via toll collection. Project is procured under Build Operate Transfer mode. Total investment amount stands at Rs 1526 crore ($237.2 million) of which Rs 1020 crore ($158.55 million) is project financing provided by State Bank of India, along with Yes Bank Limited, Bank of Maharashtra and IFCI Limited. IRB Infra will support the balance funding of Rs.506 crores ($78.65 million) through equity in the project. Financial close was achieved on Feb 14, 2018 and appointed date on 21 the same month. https://www.financialexpress.com/infrastructure/roadways/irb-infra-achieves-finance-closure-for-rs-1526-crore-highway-project-in-rajasthan/1066173/ http://www.irb.co.in/home/2018/02/14/irb-infras-spv-achieves-financial-closure-for-its-project-of-6-laning-of-90-kms/ https://www.projectstoday.com/News/KG-Tollway-receives-appointed-date-for-road-project