IRB Infrastructure Trust (the Private InvIT of IRB), has received Letter of Award (LoA) from the National Highways Authority of India (NHAI) for Rs. 4,428 Crs Lalitpur Lakhnadon NH44 TOT 12 Project, the company announcd through an exchange filing.
This will now enable the Trust to form Project SPV and proceed for signing Concession Agreement and the financial closure subsequently in a stipulated time frame.
The award of this project will boost IRB’s order book by Rs. 3,900 Crs that includes Rs.600 Crs towards EPC and balance Rs. 3,300 Crs towards O&M activities.
The Trust had recently emerged as a Preferred bidder for approximately 316 Kms (approx. 1,264 Lane Kms) long stretch under Toll-Operate-Transfer (TOT) model for the revenue linked Concession of 20 years; thus, marking entry in the State of Madhya Pradesh – 12th Indian State for IRB Group.
Virendra D. Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd., said, “We are proud to take our footprint to the State of Madhya Pradesh, the 12th one for us by adding this prestigious project to our portfolio. This has taken our asset base to Rs. 75,000 Crs in Amrit Kaal and share in TOT space to 42 percent, the largest by any private player in India.”
About TOT-12 (Lalitpur – Lakhnadon NH44 Section)
TOT-12 project from Lalitpur to Lakhnadon is the single largest major highway link of 316 Kms (1,264 Lane Kms) between Srinagar in North and Kanyakumari in South. The project covers prime cities in the Madhya Pradesh, Viz. Lalitpur, Gwalior, Sagar, Narsinghpur and Lakhnadon.
The stretch has four Toll Plazas situated at Malthone, Chitora, Titarpani and Bakori. The stretch envisages strong visibility of traffic for NH 44 due to upcoming developments like Hyderabad-Nagpur Industrial Corridor, Hyderabad-Bangalore Industrial Corridor, Hyderabad Warangal Industrial Corridor, Multi Model Logistic Park at Nagpur, and high growth states along the NH44 like Uttar Pradesh, Maharashtra, Telangana, Karnataka, etc.
