NHAI terminates concession pacts of 2 IRB Infrastructure road projects
The NHAI has terminated the concession agreements of two Special Purpose Vehicles (SPVs) of highways infrastructure developer IRB Infrastructure.
In a filing to the exchanges on November 2, IRB Infra, which recently got ₹4,400-crore investment from Singapore sovereign wealth fund GIC, said the authority has terminated concession agreements to its two SPVs — IRB PP Project Pvt Ltd and IRB PS Highway Pvt Ltd.
The SPVs had bagged Hybrid Annuity Model projects for 4-laning of Puducherry-Poondiyankuppam and Poondiyankuppam-Sattanathapuram highways.
