16, Dec 2023
IRB Infrastructure Trust (Private InvIT) – emerges as the preferred Bidder for NHAI’s TOT-13 Concession in the States of Rajasthan and Madhya Pradesh
New Delhi, December 16, 2023: IRB Infrastructure Trust (an Associate of IRB Infrastructure Developers Limited), has emerged as the preferred bidder for the 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 Rs. 1,683 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, the Company’s aggregate Order Book will reach approx. Rs. 37,500 Crs including TOT 12 and TOT 13.