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IRB Infrastructure Trust has secured a significant toll operate and transfer mandate from the National Highways Authority of India, agreeing to an upfront payment of INR 9,270 crore. The award covers a 366-km stretch across the Lucknow-Ayodhya-Gorakhpur corridor on NH-27 and part of the Lucknow-Varanasi corridor on NH-731, forming a crucial component of NHAI's ongoing asset monetisation strategy. The project has been granted for a revenue-linked concession period of 20 years. IRB Infrastructure Developers, which manages the private InvIT, highlighted the strategic importance of this religious tourism corridor in strengthening its national footprint.
IRB Infrastructure Trust has secured a major toll operate and transfer package from the National Highways Authority of India, agreeing to pay an upfront consideration of INR 9,270 crore. The award forms part of NHAI's previously announced asset monetisation programme aimed at unlocking value from operational highway assets. Advertisement
The trust received the Letter of Award for a bundle covering 366 km along the Lucknow-Ayodhya-Gorakhpur corridor on NH-27, as well as a section of the Lucknow-Varanasi corridor on NH-731. The mandate has been granted for a revenue-linked concession period extending over 20 years, according to IRB Infrastructure Developers, the project manager.
IRB Infrastructure Trust functions as a private InvIT sponsored by IRB Infrastructure Developers. The company noted that this achievement strengthens its position in the TOT space, as Virendra D Mhaiskar, Chairman and Managing Director of IRB Infrastructure Developers, stated that the TOT-17 award had been described as a pivotal milestone owing to the significance of the religious tourism belt. He indicated that the platform now commands a 42 per cent market share within the TOT segment.
IRB, recognised as India's largest integrated private developer of toll roads and highways, currently maintains an asset base exceeding INR 80,000 crore across 12 states through its parent company and two InvIT structures.
Source - PTI
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