IRB Infrastructure Trust SPVs pays Rs 6,111 cr to Nhai for TOT projects

IRB Infrastructure Trust, an associate of IRB Infrastructure Ltd, on Monday said its special purpose vehicles have made an upfront payment of Rs 6,111 crore to National Highways Authority of India (NHAI) for toll operate transfer projects.

The SPVs made an upfront payment of the concession fee of Rs 6,111 crore to the NHAI (TOT12 - Rs 4,428 crore, TOT 13 - Rs 1,683 crore) and subsequently received the appointed dates from NHAI for both projects, IRB Infrastructure said in a statement.

"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 added.

IRB Infra Chairman & Managing Director Virendra D Mhaiskar said following an exhilarating FY24, it is immensely thrilling to continue that momentum into FY25. Successful funding of two TOT projects amounting to over Rs 7,000 crore, ahead of scheduled time, is a remarkable achievement for us, he added.

IRB Infrastructure Developers Ltd (IRB) is an integrated multi-national transport infrastructure developer in roads & highways segment.