IRB Infra’s SPVs make upfront payment to NHAI of Rs 6,111 crore for TOT12 & 13 P

The SPVs made an upfront payment of the Concession Fee of Rs.6,111 Crs to the NHAI (TOT12 – Rs.4,428 Crs, TOT 13 – Rs.1,683 Crs) and subsequently received the Appointed Dates from NHAI for both projects.

The SPVs of IRB Infrastructure Trust (Associate of IRB Infra), India’s largest highways infrastructure investment trust (InvIT), 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.

The SPVs made an upfront payment of the Concession Fee of Rs.6,111 Crs to the NHAI (TOT12 – Rs.4,428 Crs, TOT 13 – Rs.1,683 Crs) and subsequently received the Appointed Dates from NHAI for both projects.

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Commenting on the development, Shri Virendra D. Mhaiskar, Chairman & Managing Director 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 7,000cr, ahead of scheduled time, is a remarkable achievement for us. With Tolling operations initiated on the two NHAI TOT projects, our entire TOT portfolio is now operational and yielding revenue. The balance future equity requirement is minuscule, bolstering our capacity to capture forthcoming opportunities in the sector. We extend our heartfelt gratitude to all our stakeholders for their unwavering support, cooperation and the trust placed in us.” He added, “We would leave no stone unturned to achieve excellence in operations to bring the world class travel experience for the users of these highways.”