NHAI receives ₹6,111 crore from IRB Infrastructure Trust SPVs.

2 Apr 2024 , 11:40 AM

The National Highways Authority of India (NHAI) has received an upfront payment of ₹6,111 Crore from IRB Infrastructure Trust, an associate of IRB Infrastructure Ltd, for toll operation transfer projects involving its special purpose vehicles.

IRB Infrastructure stated in a statement that the SPVs paid the NHAI an upfront concession price of ₹6,111 Crore (TOT 12 – ₹4,428 Crore, TOT 13 – ₹1,683 Crore) and that they then obtained the designated dates for both projects from the NHAI.

“The SPVs of IRB Infrastructure Trust (Associate of IRB Infra), Viz. IRB Lalitpur Lakhnadon Tollway Pvt. Ltd representing TOT 12 project, IRB Kota Tollway Pvt Ltd. and IRB Gwalior Tollway Pvt. Ltd. representing TOT 13 bundle, have started tolling w.e.f. the 00.00 Hrs. on 1st April 2024,” it stated.

Virendra D. Mhaiskar, Chairman and Managing Director of IRB Infra, stated that it is really exciting to carry over the momentum from an amazing FY24 into FY25. He continued, “A remarkable achievement for us is the successful funding of two TOT projects amounting to over ₹7,000 Crore, ahead of schedule.”

In the roads and highways sector, IRB Infrastructure Developers Ltd. (IRB) is an integrated, multinational developer of transport infrastructure.

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