IRB Infrastructure Secures Major TOT Project in Odisha

IRB Infrastructure Trust has secured a significant toll-operate-transfer (TOT) project in Odisha, marking its entry into the state. The project is part of NHAI's asset monetisation programme and involves a 74.5 km stretch of the Chandikhole to Bhadrak corridor. This development boosts IRB's asset portfolio significantly.

IRB Infrastructure Trust has successfully secured a toll-operate-transfer (TOT) project from the National Highways Authority of India (NHAI) in Odisha for an upfront amount of Rs 3,087 crore, according to a recent exchange filing.

This project is a segment of NHAI's planned asset monetisation initiative, marking IRB Infrastructure Developers Ltd's first venture into Odisha. The acquisition covers 74.5 km of the Chandikhole to Bhadrak corridor on NH-26, a part of the Golden Quadrilateral Project.

According to Virendra D Mhaiskar, Chairman & Managing Director of IRB Infrastructure Developers, this project is pivotal in reaching the company's goal of amassing a Rs 1 lakh crore asset portfolio shortly. The addition of TOT-17 and TOT-18 is expected to boost toll revenue by approximately Rs 1,000 crore in FY27.

(With inputs from agencies.)