IRB Infrastructure Trust receives Letter of Award from NHAI for TOT-17

IRB Infrastructure Trust, the Private InvIT sponsored by IRB Infrastructure Developers Ltd., has received the Letter of Award (LoA) from the National Highways Authority of India (NHAI) for the TOT-17 Bundle covering 366Kms of the Prestigious LucknowAyodhya-Gorakhpur Corridor on NH-27 and part of Lucknow-Varanasi Corridor on NH-731, for a Revenue Linked Concession period of 20 Years.

Commenting on the award, Mr. Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd. Said, "TOT-17 is a pivotal accomplishment for us given the importance of this religious tourism corridor. With this award, the IRB platform now commands riveting 42% market share in the TOT space. The outcome underscores the growing confidence of long-term private capital in India's national highway monetisation framework." He added, "It strengthens our platform and enables us to move rapidly towards 1 lac crore asset portfolio mark."

Key Highlights: TOT-17 Concession:

- Total Length: 366 km
- Lucknow - Ayodhya - Gorakhpur (NH-27)
- Lucknow - Sultanpur (Part of Lucknow Varanasi Corridor - NH-731)
- Scope: Tolling and Operations & Maintenance for a 20-year revenue-linked concession period
- The highest valued NHAI monetisation award for 20-year concession worth Rs.9,270Crs

IRB Group, post addition of this project:

- Toll revenue for the portfolio to increase substantially
- Group Asset Base to exceed Rs.90,000Crs
- Market Share in TOT segment rises to 42%
- O&M Order Book expected to grow by approx. 20%

Source : Equity Bulls

Keywords

IRBInfrastructureDevelopers PrivateInvIT IRBInfrastructureTrust LoA NHAI