IJM unveils its largest India job

“Apart from providing earnings visibility and serving as a long-term growth driver, we are proud to have played a role in expediting the improvement of infrastructure in Maharashtra and Karnataka,” said IJM chief executive officer and managing director Liew Hau Seng.

PETALING JAYA: IJM Corp Bhd (IJM) has launched its largest Indian project – the 110km Solapur-Bijapur tollway built by its Indian arm, IJM (India) Infrastructure Ltd (IJM India).

According to IJM’s statement, The National Highway Authority of India (NHAI) has awarded a 20-year concession contract to IJM India to develop the Solapur-Bijapur section of the new National Highway 52 between Maharashtra and Karnataka.

At RM1.5bil, the four-lane tollway is also one of the largest contract awarded by NHAI on a design, build, finance, operate and transfer(DBFOT) basis.

“The project involved the rehabilitation, upgrading and widening of the existing two-lane carriageway to four-lane standards with bypasses and the construction of flyovers, bridges, road intersections, railway overbridges as well as the operation and maintenance of two toll plazas,” the construction and property group said.

India’s Union Minister for Road Transport and Highways Shri Nitin Gadkari launched the tollway in Solapur, Maharashtra on Monday.

“Apart from providing earnings visibility and serving as a long-term growth driver, we are proud to have played a role in expediting the improvement of infrastructure in Maharashtra and Karnataka,” said IJM chief executive officer and managing director Liew Hau Seng.

“Efficient and convenient toll highways are essential to complement any government’s efforts to improve its country’s infrastructure development. With a stable of prominent projects completed in India in recent years, IJM India has emerged as a premier DBFOT specialist and have set standards for road construction in the country’s infrastructure sector,” he added.

The construction of the tollway began in November 2018. Despite the challenges posed by the Covid-19 pandemic, the tollway was provisionally completed in 38 months, ahead of schedule. The provisional commercial operations and tolling commenced in December 2021.

“To date, actual traffic volume and revenue are in line with projection, and the project has generated positive operational cash flows since tolling commenced,” it said.

IJM India operates three tolled highways in India.