• Company takes a step ahead in achieving financial closure for the project  
• Project involves paying upfront Rs.4,428 Crs to the NHAI for Tolling and O&M of 316 Kms stretch of NH44 for a revenue linked Concession Period of 20 Years.
• The project is being executed by IRB Infrastructure Trust (Private InvIT)

MUMBAI, NOVEMBER 24, 2023 (GPN): IRB Infrastructure Developers Ltd, India’s leading and the largest integrated multi-national transport infrastructure developer in the highways sector (IRB Infra), has informed that IRB Lalitpur Tollway Pvt. Ltd., a Project SPV of the IRB Infrastructure Trust (an Associate of IRB Infra), has signed the Concession Agreement today with the NHAI for Tolling and Operations & Maintenance of the Lalitpur Lakhnadon stretch of NH44 in the State of Madhya Pradesh on Toll-Operate-Transfer (TOT) basis.

While commenting on the development, Mr. Virendra D. Mhaiskar, Chairman & Managing Director said, “This is our second Concession Agreement for a TOT project within a span of 6 months, which shows the high trust and confidence of the authorities in our domain expertise and execution capacities in managing a large sized project. Considering our track record of last 25 years in arranging finances for large sized projects, coupled with our key strength of maintaining strict and strong financial discipline throughout, we are confident of achieving financial closure within stipulated timeframe and get appointed date for taking possession of the project.” He added, “We look forward to bringing World Class travel and project management experience for commuters and other stakeholders of the project.”    

Key highlights of the Project are as under: 

Project description	Tolling, Operation, Maintenance and Transfer of four lane Lalitpur-Sagar-Lakhnadon section of 316 Kms. of NH44 under TOT in the State of Madhya Pradesh
Concession Fee for the Project	Upfront Concession Fee of Rs. 4,428 Crores to be paid to the NHAI for revenue-linked Concession Period of 20 years.
Concession Period & Tolling	Tolling and O&M activity will commence from the Appointed Date.

To re-iterate IRB Infrastructure Trust had received Letter of Award for this project on 29th October 2023 after emerging the selected bidder in global competitive bids invited by the NHAI.

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.75,000 Crs. in 12 States across the parent company and two InvITs.

The Company has strong track record of constructing, tolling, operating, and maintaining around 18,500 lane Kms pan India in its existence of 25 years in India.

It has approx. 20% share in India’s prestigious Golden Quadrilateral project, which is the largest by any private infrastructure developer in India. In the TOT space, the group commands a market share of around 42%.

After successfully completing 13 Concessions and handing over them to the nodal agencies, at present, IRB Group’s project portfolio (including Private and Public InvIT) has now 25 road projects that include 18 BOT, 3 TOT, and 4 HAM projects.Ends