IRB Infrastructure Trust wins major NHAI highway project in Odisha

IRB Infrastructure Trust has emerged as the preferred bidder for the Tolling, Operation, Maintenance & Transfer (TOT-18) project involving the Chandikhole - Bhadrak Section of NH-16 in Odisha. This 74.5 km (450 Lane Kms) stretch of highway requires the Trust to pay an upfront bid concession fee of Rs. 3,087 crores to NHAI for a 20-year revenue-linked concession period. This award further expands the Group's presence to its 13th Indian State and second in the Eastern Region.

The project is part of the Golden Quadrilateral, increasing IRB’s market share in this segment to approximately 16%. With this win, the IRB Group's total project portfolio (including Private and Public InvIT) will now encompass 28 highway projects. The order book for IRB Infrastructure Developers Ltd will increase by approximately Rs. 1,600 crores.

IRB Infrastructure Developers Ltd will serve as the project manager for this new asset. The annual tariff revision for the project will be a fixed 3% per annum plus 40% of the Wholesale Price Index (WPI). Tolling and operations & maintenance activities are set to commence from the appointed date.