HYDERABAD: IRB Golconda Expressway Private Limited said in a statement that they had begun their operation of toll collection on the 158-km access-controlled Outer Ring Road on Saturday. It said it had made the payment of the upfront concession fee of Rs 7,380 crores to the HMDA.
IRB Golconda Expressway Private Limited, a special purpose vehicle of IRB Infrastructure Trust (an associate of IRB), received the appointed date in line with the concession agreement, the statement said. The project provides employment opportunities to more than 1,200 people.
Virendra D. Mhaiskar, chairman and managing director, expressed gratitude to all stakeholders and said, “Achieving financial closure well ahead of time for such a large and iconic project is a matter of pride to us... We are committed to achieving excellence in the operations and bringing a world-class travel experience for users.”
