NHAI grants IRB Infrastructure Trust the go-ahead for a Rs 4,428 cr project

The project comprises operation and maintenance (O&M) and tolling on the North-South corridor of NH44's greatest single continuous span, which is 316 km (1,264 lane miles).

The NHAI has sent the letter of award for the Rs 4,428 crore road project to IRB Infrastructure Trust, the private InvIT of IRB. With this award, IRB Infrastructure's asset base now stands at Rs 75,000 crore, the firm said in a statement on Sunday.

"IRB Infrastructure Trust (Private InvIT) obtains the Letter of Award (LoA) form the NHAI (National Highways Authority of India) during Rs 4,428 crore Lalitpur-Lakhnadon NH 44, TOT-12 construction for the revenue linked concession of 20 years," stated the release. The project comprises operation and maintenance (O&M) and tolling on the North-South corridor of NH44's greatest single continuous span, which is 316 km (1,264 lane miles).

The IRB Group's introduction into Madhya Pradesh occurred when the Trust emerged as a recommended bidder for the Toll-Operate-Transfer (TOT) system for the revenue-linked franchise of 20 years. Virendra D. Mhaiskar, Chairman as well as Managing Director of IRB Infrastructure Developers, stated: "We are honored to expand our presence in Madhya Pradesh with the addition of this esteemed project to our portfolio, making it our 12th state. As a result, we now have the most stake of any private company in India in the TOT market, with 42% of our assets in Amrit Kaal amounting to Rs 75,000 crore.

According to a statement from the business, the TOT-12 project, which spans 316 km (1,264 lane km) and connects Lalitpur and Lakhnadon, is the biggest important highway connection between Srinagar in the north and Kanyakumari in the south. Leading Madhya Pradesh cities, including Lalitpur, Gwalior, Sagar, Narsinghpur, and Lakhnadon, are included in the project.

Four toll plazas along the section are located in Bakori, Titarpani, Chitora, and Malthone. Because to impending projects like the Hyderabad-Nagpur Industries Corridor, Hyderabad-Bangalore Industrial Corridor, as well as Hyderabad Warangal Industrial Corridor, the stretch anticipates considerable traffic visibility for NH 44.