IRB Infrastructure Trust, the private Infrastructure Investment Trust of IRB, has clinched a significant milestone with the National Highways Authority of India (NHAI). The prestigious NHAI has awarded IRB Infra Trust the coveted Letter of Award (LoA) for a substantial Rs 4,428 crore road project.
This remarkable achievement marks a significant boost, propelling the company’s asset base to an impressive Rs 75,000 crore, as announced by IRB Infrastructure in an official statement on a pleasant Sunday.
In this monumental announcement, IRB Infrastructure Trust (Private Infrastructure Investment Trust) proudly accepts the Letter of Award (LoA) from NHAI, confirming their role in the Rs 4,428 crore Lalitpur-Lakhnadon NH 44, TOT-12 project. This project encompasses a revenue-linked concession spanning 20 years.
The undertaking involves responsibilities related to toll collection and operation and maintenance (O&M) activities over a sprawling stretch of 316 km, boasting 1,264 lane kilometers on the illustrious North-South corridor of NH44.
Recently, the Trust emerged as the preferred bidder for the Toll-Operate-Transfer (TOT) model, marking the IRB Group’s entrance into the vibrant state of Madhya Pradesh.
Virendra D Mhaiskar, Chairman and Managing Director of IRB Infrastructure Developers, expressed his pride and enthusiasm regarding this new venture. “We are thrilled to extend our presence into Madhya Pradesh, marking it as our 12th successful project. This esteemed addition has bolstered our asset base to an impressive Rs 75,000 crore during the auspicious Amrit Kaal. Additionally, it has amplified our share in the TOT space to an impressive 42 percent, making us the largest private player in India.”
The TOT-12 project, spanning from Lalitpur to Lakhnadon, is a monumental feat, representing the single largest major highway link covering 316 kilometers (1,264 lane kilometers) between the North in Srinagar and the South in Kanyakumari, as declared in the official company statement.
Notably, this extensive project spans through prominent cities in Madhya Pradesh, including Lalitpur, Gwalior, Sagar, Narsinghpur, and Lakhnadon.
The stretch features four strategically located toll plazas at Malthone, Chitora, Titarpani, and Bakori, ensuring seamless travel experiences for commuters.
Furthermore, the project holds promising prospects, with substantial traffic visibility expected along NH 44 due to impending developments such as the Hyderabad-Nagpur Industrial Corridor, Hyderabad-Bangalore Industrial Corridor, and Hyderabad Warangal Industrial Corridor.
About IRB Infra Trust:
IRB Infrastructure Trust, a privately-held trust engaged in the construction sector, is duly registered in accordance with the Indian Trusts Act of 1882 and complies with SEBI’s Infrastructure Investment Trusts Regulations of 2014. This trust enjoys sponsorship from IRB Infra Developers Limited, which holds the prestigious status of being India’s foremost integrated multinational infrastructure developer. Boasting a substantial portfolio of 23 highway projects, encompassing a total distance of approximately 16,000 lane kilometers and an impressive enterprise value amounting to Rs 62,000 crore.
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