InvestorQ : Why has NHAI cancelled the Rs.2193 crore bid given to IRB Infratructure?
vaishnavi mhatre made post

Why has NHAI cancelled the Rs.2193 crore bid given to IRB Infratructure?

Answer
user profile image
Arusha Ray answered.
3 months ago


National Highways Authority of India annulled the Rs.2193-crore bid won by IRB Infrastructure for widening of a highway stretch in West Bengal under Bharatmala project. However, no reasons were provided for the cancellation of the bid. IRB had emerged as a preferred bidder for the project for the NH-19 Dankuni-Palsit stretch of 63.83 km.

IRB has also been a recent recipient of India's largest TOT (toll-operate-transfer) project on the Mumbai-Pune expressway worth Rs 8,262 crore. This is likely to impact the price performance of IRB as it has been betting heavily on a sharp revival in infrastructure demand post the COVID pandemic.