This project will add Rs1,800 Crs (without GST) to order book of IRB
FinTech BizNews Service
Mumbai, December 18, 2023: IRB Infrastructure Trust (an Associate of IRB Infrastructure Developers Limited), has emerged as the preferred bidder for TOT-13 concession announced by the National Highways Authority of India (NHAI), Viz. Tolling, Operation, Maintenance and Transfer of Kota Bypass and Cable Stay Bridge on NH-76 (New NH-27) in the state of Rajasthan and Gwalior-Jhansi section in the State of Madhya Pradesh and Uttar Pradesh respectively.
The 110.28 Kms (441 Lane Kms) long project is under Toll-Operate-Transfer (TOT) model and involves upfront consideration of Rs1,683 Crs to be paid to the NHAI after achieving financial closure to secure tolling rights for 20 Years (revenue linked Concession Period), within stipulated timeframe.
Commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., said, “This is second consecutive TOT win for us in a span of just a month and half, which is another testament of our strengths. This has strengthened IRB Infra’s leading position further in TOT space, which involves upfront payment of Rs 22,000cr to the government across 4 projects and expands our total asset base to Rs 77,000 Crs.” He added, “We express our sincere gratitude towards all authorities and stakeholders for their continued high trust and confidence in IRB. We would leave no stone unturned to achieve operational excellence to ensure the world class travel experience to the users.”
After the project getting awarded, Company’s aggregate Order Book will reach approx. Rs. 37,500 Crs including TOT 12 and TOT 13.
About IRB Infrastructure Developers Ltd:
IRB Infrastructure Developers Ltd (IRB) is India’s first Integrated Multi-National Transport Infrastructure Developer in Roads & Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of over Rs.77,000 Crs. in 12 States across the parent company and two InvITs.
The Company has strong track record of constructing, tolling, operating, and maintaining around 19,000 lane Kms pan India in its existence of 25 years in India.
