Wednesday, January 7 — Shares of IRB Infrastructure Developers were trading nearly 2% higher in morning trade, with the stock around Rs 42.60 on the BSE, after the company announced that IRB Infrastructure Trust has secured a toll-operate-transfer (TOT) project from the National Highways Authority of India (NHAI) in Odisha.
In an exchange filing, IRB said the project has been awarded for an upfront consideration of Rs 3,087 crore under NHAI’s asset monetisation programme. The award marks IRB’s entry into Odisha, expanding its footprint in the road infrastructure space.
IRB Infrastructure Trust has received a Letter of Award from NHAI for a bundle covering 74.5 km of the Chandikhole–Bhadrak corridor on National Highway 26. The stretch forms part of the government’s flagship Golden Quadrilateral Project, which aims to strengthen key national highway corridors across the country.
The company clarified that IRB Infrastructure Trust is a private infrastructure investment trust (InvIT) sponsored by IRB Infrastructure Developers. Under the TOT model, the concessionaire is responsible for operating and maintaining the highway asset and collecting toll revenues for a defined concession period, in return for the upfront payment made to NHAI.
The latest award adds to IRB’s portfolio of operational road assets and aligns with the government’s broader push to monetise existing infrastructure to fund new highway development.
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