IRB Infrastructure Developers Limited has made significant progress in the execution of the Ganga Expressway Project through its Private InvIT (Infrastructure Investment Trust). On December 16, 2024, the company announced the signing of a series of key agreements with major stakeholders, including GIC Singapore, Cintra entities, IRB Infrastructure Trust (Private InvIT), and Meerut Budaun Expressway Limited (MBEL).

Key Details of the Agreements

The Private InvIT has acquired a ~80.40% stake in the equity share capital and debentures of MBEL, which is crucial for the ongoing development of the Ganga Expressway Project. This acquisition solidifies the partnership between the involved parties and paves the way for the seamless implementation of the project. In addition to this acquisition, the agreements also involve amendments to several previously executed documents and arrangements, ensuring the smooth execution of the project as planned.

The Private InvIT, which operates under the governance of IRB Infrastructure Developers, will now oversee the implementation and progress of the Ganga Expressway, marking a crucial step in realizing the infrastructure project. The various agreements are integral to the overall project financing and strategic direction of the expressway’s construction.

Significance of the Project

The Ganga Expressway Project is a landmark initiative that will significantly improve connectivity and infrastructure in the region. As one of the largest infrastructure projects in India, the Ganga Expressway is expected to contribute substantially to regional economic development, enhance logistics efficiency, and facilitate better transportation networks for surrounding states. This project also aligns with the Indian Government's vision to improve the nation’s infrastructure and connectivity through the development of expressways and national highways.

Strategic Partnership for Project Execution

The partnership between IRB Infrastructure Developers, GIC Singapore, Cintra entities, and other stakeholders ensures a robust and coordinated effort to drive the Ganga Expressway Project forward. The involvement of Private InvIT in managing the project’s finances and execution adds another layer of strategic expertise to the initiative, reinforcing IRB’s commitment to the timely and efficient delivery of the project.

Moreover, the signing of the Securities Purchase Agreement, alongside the Project Implementation Agreement, marks a turning point for the project, indicating that all necessary preconditions for the project’s full-scale implementation have been met.

About IRB Infrastructure Developers

Founded in 1998, IRB Infrastructure Developers is one of India’s leading infrastructure development and construction companies. Specializing in highways, expressways, and toll roads, the company has executed numerous infrastructure projects across the country, contributing significantly to India’s transportation and logistics network. IRB Infrastructure is listed on major Indian stock exchanges, including the BSE and NSE, under the scrip code 532947 and symbol IRB.

The company has consistently demonstrated its leadership in the infrastructure sector through strategic investments, strong partnerships, and the successful execution of complex projects. With an expansive portfolio of projects and a growing presence in the infrastructure space, IRB Infrastructure continues to play a pivotal role in shaping India’s infrastructure landscape.

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