IRB Infra Initiates Toll on Culturally Significant NH Corridors

IRB Infrastructure and Developers has begun toll collection on the Lucknow-Ayodhya-Gorakhpur and Lucknow-Sultanpur highway sections after paying a substantial fee to NHAI. This initiative aims to enhance travel efficiency and contribute to regional development, highlighting the routes' cultural and spiritual importance.

IRB Infrastructure and Developers announced the commencement of toll collection on crucial sections of the Lucknow-Ayodhya-Gorakhpur and Lucknow-Sultanpur highways, major parts of NH-27 and NH-731.

The company initiated the toll after remitting a significant concession fee of Rs 9,270 crore to the National Highway Authority of India (NHAI), alongside achieving financial closure. The tolling project will be managed by IRB Harihara Corridors under a 20-year revenue-linked concession period.

Virendra D Mhaiskar, Chairman of IRB Group, highlighted the cultural and spiritual relevance of these corridors, emphasizing their role in safe and efficient travel for millions of pilgrims and travelers. IRB, which holds an asset base of Rs 94,000 crore across 13 states, had been the top bidder for NHAI's TOT-17 initiative.

(With inputs from agencies.)