India, July 15 -- IRB Infrastructure Developers Ltd announced that its project SPV, Palsit Dankuni Tollway Pvt. Ltd., a part of its Private InvIT joint venture, has received the Completion Certificate (COD) from the National Highways Authority of India (NHAI) for 61.3 km of the total 63.83 km stretch of the Palsit-Dankuni NH19 BOT project in West Bengal. With the COD in place, the company is now authorized to begin toll collection at a revised tariff, which reflects a 47% increase.
Commenting on the milestone, Chairman and Managing Director Mr. Virendra D. Mhaiskar stated that achieving the COD is a major step forward, allowing toll operations to commence under the revised rates outlined in the Concession Agreement. He expressed confidence...