IRB Infrastructure Trust Wins Major NHAI Toll Project in Uttar Pradesh

IRB Infrastructure Trust secures a toll operate and transfer project from NHAI in Uttar Pradesh with a Rs 9,270 crore deal. The contract covers 366 km on two corridors, enhancing the company’s position in the TOT space with a notable 42% market share.

IRB Infrastructure Trust has secured a significant toll operate and transfer (TOT) project from the National Highways Authority of India (NHAI) in Uttar Pradesh, committing an impressive Rs 9,270 crore upfront. This announcement was confirmed via an exchange filing on Saturday.

This project represents part of NHAI's broader asset monetisation strategy and involves a substantial 366 km of the Lucknow-Ayodhya-Gorakhpur corridor on NH-27, along with a segment of the Lucknow-Varanasi corridor on NH-731, for a revenue-linked concession period spanning 20 years. IRB Infrastructure Developers oversees the project as the manager.

Virendra D Mhaiskar, Chairman and Managing Director of IRB Infrastructure Developers, described the TOT 17 project as a 'pivotal accomplishment' due to the corridor's religious significance. With this contract, the IRB platform expands its market share to 42% in the TOT sector. Boasting an asset base exceeding Rs 80,000 crore, IRB stands as India's largest private toll roads and highways infrastructure developer, operating across 12 states via its parent company and two InvITs.

(With inputs from agencies.)