Highway construction company RB Infrastructure Developers has secured a Rs34bn ($523.6m) contract from National Highways Authority of India (NHAI) for the project of six laning of Hapur bypass in the Indian state of Uttar Pradesh (UP).

The project involves a 99.86km stretch from Hapur to Moradabad, and is scheduled to be developed on a build, operate and transfer (BOT) basis.

The concession period of the project is 22 years, while construction is expected to be completed in 910 days.

Alongside building the road, the IRB Infrastructure will receive tolling rights on the project from the appointed date.

“This boosts the construction order book visibility for next three to four years.”

The company has agreed to pay a premium of Rs315m ($4.85m) to NHAI to be payable from the fourth year from the appointed date in terms of the concession agreement.

IRB Infrastructure chairman and managing director Virendra Mhaiskar was quoted by PTI as saying: “We have a proven track record in the BOT space. With this project, the company’s construction order book now stands at Rs15,300 crore [$2.35bn]. This boosts the construction order book visibility for next three to four years.”

Recently, the company has also bagged another road project valuing Rs20.43bn ($314.6m) from NHAI in the Indian state of Gujarat.

This project involves the construction of the eight-lane Vadodara Kim expressway from 355km to 378.74km between Padra and Vadodara section of the Vadodara-Mumbai Expressway.

Incorporated in 1998, IRB Infrastructure Developers is headquartered in Mumbai.