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INTERNATIONAL ROAD FEDERATION TO LAUNCH GIC TO INVEST `1,045 CRORE IN IRB INFRA’S GANGA-
BLOCKCHAIN-BASED DIGITAL PLATFORM ON ROAD EXPRESSWAY ROAD PROJECT
SAFETY IRB Infrastructure Developers Ltd’s Ganga Expressway Project
Global road safety body International Road Federation (IRF) has completed equity raise of `533.20 crore. Singapore based INFRASTRUCTURE
will soon launch a blockchain-based digital platform on road GIC Affiliates contributed `261.29 crore and IRB Infra contributed
safety similar to CoWIN. The platform will have an integrated `271.90 crore. IRB Infra will hold 51% stake in the Project while GIC
data related to road audits, enforcement, emergency care Affiliate will hold 49%. The Project is expected to complete private
and insurance providers and connect users with road operating placement of NCD of `138.65 crore to IRB Infra and GIC Affiliate
authorities, enforcement agencies and emergency service soon subject to fulfillment of condition precedents.
providers, IRF said in a statement. “The road safety digital The Company will also act as the Project Manager for
platform will be like CoWIN (Covid vaccine intelligence network), implementing the project. As the Project Manager it will be
a one-stop solution for all needs of road commuters,” it said. receiving entire flow of consideration towards EPC and O&M
It will contain login-based specific and secured information Works for the Project, which will be in aggregate approximately
about road users, including their driving licence, safe driving `10,459 crore (plus applicable taxes).
scores, validity of licence, insurance policy, e-challan and To re-iterate, Meerut Budaun Expressway, Ganga Expressway
penalties, if any, as well as vehicle details such as registration, Group 1 Greenfield BOT Project is six lanes stretch of 129.700
challan and vehicle insurance, among others. Kms, expandable to eight lanes, between Meerut and Budaun
“The blockchain-based digital platform with mobile app will in Uttar Pradesh, with the cost outlay of `6,538 crore.
provide an end-to-end system, documenting each step of The project had achieved Financial Closure, where the Senior
the road safety-related issues by integrating various databases Lender had extended financial support of `2,659 crore; IRB & GIC
through APIs (Application Programming Interfaces) and creating Affiliate have committed Equity and related infusion of `2,133
a unified user interface and customised role-based dashboards crore and the Viable Gap Funding (VGF) from UP`EIDA is `1,746
for the stakeholders,” IRF-India chapter president Satish Parakh crore.
said. According to data, the country witnesses some 5 lakh road The Company had recently received Appointed Date from nodal
accidents every year, killing around 1.5 lakh people and injuring agency, Uttar Pradesh Expressways & Industrial Development
over 3 lakh. Authority (UPEIDA) to commence construction activity in full swing
so as to meet the set timeline for completion and commissioning
SJVN THERMAL TO RECEIVE `8520 CRORE FINANCING of the prestigious project for use of people of the State of Uttar
FROM REC, PFC, FOR BUXAR POWER PLANT Pradesh.
SJVN Thermal Private Ltd. has signed an agreement with the
state-owned REC Ltd. and Power Finance Corporation to receive DILIP BUILDCON RECEIVES APPOINTED DATE FOR ROAD
funding totalling `8,520.92 crore for the construction of a 1,320 PROJECT BY NHAI
MW thermal power plant at Buxar. According to a press release Dilip Buildcon Limited has informed that that ‘Sannur Bikarnakette
from the company, “REC Limited and Power Finance Corporation Highways Limited’, wholly-owned subsidiary of the Company has
Limited (PFC) — Maharatna CPSEs under the ministry of power received the appointed date letter from the National Highways
— have signed a memorandum of loan agreement with SJVN Authority of India and had declared the appointed date as
Thermal Private Ltd (STPL) for financing 2x660 MW coal-based October 10, 2022.
Buxar Thermal Power Plant (BTPP). The overall projected project As per the filing, the project is “Four lanning of Sannur to
cost, according to the announcement, is `12,172.74 crore, Bikarnakette Section from existing km 698.85 (design km 691+350)
with an `8,520.92 crore loan requirement. According to the to existing km 744.190 (design km 736+362) of NH-169 under
agreement, REC and PFC will finance the debt requirement. In Bharathmala Pariyojana on Hybrid Annuity Mode in the state of
addition to other senior authorities, the agreement was signed Karnataka (Package II).” The bid project cost is `1,137 crore and
in the presence of R S Dhillon, CMD of PFC, N L Sharma, CMD of the estimated completion period is 24 months, the company
SJVN, Ajoy Choudhury, Director of Finance for REC, and V K Singh, said.
Director of Technical for REC. This is a fantastic cooperation for
the growth of the power and energy sector, according to Vivek DILIP BUILDCON GETS `702 CRORE LOA FOR SURAT
Kumar Dewangan, CMD of REC, who talked to ET. All parties METRO RAIL PROJECT PHASE 1
involved will gain from this agreement over the long term. SJVN Dilip Buildcon Limited has received letter of acceptance (LOA)
Thermal Private Limited is a fully owned subsidiary of SJVN Ltd, from the Gujarat Metro Rail Corporation (GMRC) Limited for “Surat
a central public sector organization of the Mini Ratna category Metro Rail Project Phase-I (Pkg-CS-6)” in the state of Gujrat, order
that reports to the Union Power Ministry. worth `702.02 crore. As per the filing, the LOA is for “Construction
The STPL is currently working on the 2x660 MW supercritical coal- of 8.702 kms elevated viaduct and 7 nos. stations (Excl. E&M,
based Buxar Thermal Power Plant (BTPP), a greenfield project Architectural Finishing and Roofing) from Majura Cate (Ch. 9090
with the aim of enhancing the dependability of India’s eastern m) to Saroli Dead End (Ch. 17791.851 m) under conidor-2 in
electrical sector and supplying power to the state of Bihar. connection with Surat Metlo Rail Project Phase - I (Pkg-CS-6).”
Prime Minister Narendra Modi had placed the project’s Further, the estimated completion period is 26 months, the
foundation stone. company said in a filing.

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