 "IRB Infra arm inks pact with NHAI for tolling project in Madhya Pradesh")
IRB Infrastructure Developers on Friday said that its associate IRB Lalitpur Tollway has signed a concession agreement with the NHAI for tolling and operations and maintenance of the Lalitpur-Lakhnadon stretch of NH44 in Madhya Pradesh.
The project involves paying upfront Rs 4,428 crore to NHAI for tolling and O&M of 316 km stretch of NH44 for a revenue-linked concession period of 20 years, IRB Infrastructure Developers said in a statement.
The project is being executed by IRB Infrastructure Trust (Private InvIT), it added.
The company has taken a step ahead in achieving financial closure for the project, the statement said.
IRB Infrastructure Developers Chairman and MD Virendra D Mhaiskar said this is the company's second concession agreement for a toll-operate-transfer (TOT) project within a span of 6 months.
"We look forward to bringing World Class travel and project management experience for commuters and other stakeholders of the project," he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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