IRB Infrastructure Trust has been selected as the preferred bidder for NHAI's TOT-18 concession, which involves tolling, operation, maintenance, and transfer of the 74.5 km Chandikhole-Bhadrak section of NH-16 in Odisha.
The trust will pay an upfront concession fee of Rs 3,087 crore to the National Highways Authority of India (NHAI) after achieving financial closure. The concession period is 20 years, with revenue linked to toll collections. IRB Infrastructure Developers will act as the project manager for this concession. This marks IRB's entry into its 13th state and its second project in eastern India, after its West Bengal asset on NH-19.
The TOT-18 asset is part of the Golden Quadrilateral network, further strengthening IRB Group’s presence in the TOT segment.