The Maharashtra State Road Development Corporation Ltd (MSRDC) awarded contract to IRB Infrastructure for operation and maintenance of Mumbai-Pune Expressway and old Mumbai-Pune highway on Design-Build-Finance-Operate-Transfer (DBFOT) mode for four years and three months, from 2019 to 2023.
As per the contract, IRB will look after maintenance of both the highways along with construction of service road on certain stretch of the old highway, flyovers, which will cost Rs 687 crore to IRB. In addition, IRB will pay Rs 1000 crore to MSRDC as upfront payment.
The existing toll collection contract, which is undertaken by IRB Infrastructures, is scheduled to terminate in 2019. MSRDC had invited tenders for new toll collection contract few months back, in which six companies had shown interest.