NHAI annuls Rs 2,193-cr bid won by IRB Infra for BOT project in West Bengal

IRB Infrastructure Developers on Tuesday said the National Highways Authority of India (NHAI) has annulled the Rs 2,193-crore bid won by the company for widening of a highway stretch in West Bengal under the Bharatmala Pariyojana. However, it did not provide any details for cancellation of the bid.

"With reference to earlier disclosure dated July 10, 2020, the National Highways Authority of India has informed us now that the NHAI has annulled the bid received by them," IRB Infrastructure Developers said in a filing to the BSE.

On July 10, the company said it has won a project for widening of a 63.83-km stretch on the NH-19 that will be its first project in eastern India. The section is part of the Golden Quadrilateral project

"The company has emerged as a preferred bidder for BOT (build-operate-transfer) project of six laning of the national corridor NH-19 from Dankuni to Palsit stretch of 63.83 km in West Bengal, with a project cost of Rs 2,193.23 crore," IRB Infrastructure had said in a statement.

Recently, the company bagged India's largest TOT (toll-operate-transfer) project on the Mumbai-Pune expressway of Rs 8,262 crore, and has already paid the first tranche of Rs 6,500 crore as an upfront sub-concession fee to Maharashtra State Road Development Corporation Ltd.