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 ...