IRB Infrastructure Trust on Monday announced that its special purpose vehicles (SPVs) have completed an upfront payment of Rs 6,111 crore to the National Highways Authority of India (NHAI) for toll operate transfer projects.
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This payment includes concession fees of Rs 4,428 crore for TOT12 and Rs 1,683 crore for TOT13. Following this payment, IRB Infrastructure stated that the SPVs have received the appointed dates from NHAI for both projects
Chairman & Managing Director, Virendra D Mhaiskar mentioned that FY24 was very good for the company and they need to continue the fervour in FY25. Mhaiskar added that funding of two TOT projects of RS 7000 crore was done before the deadline and it was an achievement for the company. He also extended his heartfelt gratitude to the investors for their support and cooperation.
‘’We would do everything possible to achieve high standards in operations and bring worldwide travel experience for the users who are using these highways,’’ Mhaiskar added.
Cost of Tollways
The estimated project cost for the Lakhnadon Tollway NH 44 TOT12 project is Rs 5,182 crores and Rs 1901 crores for Jhansi Gwalior NH44 TOT12 project.
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IRB is one of India’s biggest integrated private toll and highway infrastructure companies in the country. It has an approximately Rs 80,000 crore asset base in twelve states.
