IRB Infrastructure Trust secures Rs 2,385 crore for TOT-18 project in Odisha

Kinjal — Fri, 20 Mar 2026 17:30:36 +0000

IRB Infrastructure Trust has successfully achieved financial closure for the TOT-18 Project, securing a sanction of ₹2,385 crore for its implementation. The project involves the tolling, operation, maintenance, and transfer of the Chandikhole – Bhadrak section of NH-16 in Odisha.

IRB Chandibhadra Tollway Private Limited, the Special Purpose Vehicle (SPV) for the TOT-18 Project, has tied up senior debt of ₹2,385 crore from the Trust to facilitate the project’s execution. This development follows earlier disclosures made by the Trust on February 11, 2026, and February 26, 2026.

The TOT-18 Project spans approximately 74.50 kilometres and involves a bid concession fee of ₹3,087 crore, which the Trust will pay upfront to the National Highways Authority of India (NHAI). The concession period is revenue-linked and extends over 20 years.

The project will see an annual tariff revision, comprising a fixed 3% per annum increase plus 40% of the Wholesale Price Index (WPI). Tolling and operations and maintenance activities are set to commence from the appointed date.

IRB Infrastructure Developers Ltd will act as the project manager for the TOT-18 Project, overseeing its implementation and management.

Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).

IRB Infrastructure Developers Ltd | Business Upturn

IRB Infrastructure Trust secures Rs 2,385 crore for TOT-18 project in Odisha