"IRB Infrastructure Trust Emerges as Preferred Bidder for NH 44 Segment"

IRB Infrastructure Trust, a subsidiary of IRB, has emerged as the preferred bidder for the 316 kilometers long Lalitpur - Lakhnadon stretch of NH 44. This project has been awarded under the Toll-Operate-Transfer (TOT) model and involves an upfront consideration of Rs. 4,428 crore. This amount is to be paid to the National Highways Authority of India (NHAI) upon reaching financial closure, thereby securing tolling rights for a duration of 20 years, which is revenue-linked.

In a statement, IRB Infrastructure Trust announced this significant development, marking the company's entry into Madhya Pradesh, becoming the 12th Indian state where the company operates. The project is anticipated to achieve positive cash flow from its very first year of operation, further enhancing its attractiveness.

The TOT-12 project, spanning from Lalitpur to Lakhnadon, is the largest major highway link covering 316 kilometers (1,264 Lane Kms) between Srinagar in the North and Kanyakumari in the South. It encompasses key cities in Madhya Pradesh, including Lalitpur, Gwalior, Sagar, Narsinghpur, and Lakhnadon. The project also features four Toll Plazas strategically located at Malthone, Chitora, Titarpani, and Bakori.

ET