IRB Infrastructure Trust has been selected as the successful bidder and has received a letter of award (LoA) from the National Highways Authority of India (NHAI) for a major infrastructure project.
The project entails the tolling, operation, maintenance, and transfer (TOT) of the Lucknow-Ayodhya Section, Ayodhya-Gorakhpur Section, and Lucknow-Sultanpur section of National Highways NH-28 (New NH-27) and NH-731 in Uttar Pradesh. The total project length spans 366.096 km. Under the agreement, the Trust will pay an upfront bid concession fee of Rs. 9,270 crore to NHAI. The concession period is set for 20 years, with the revenue linked to the tolling and maintenance operations.
IRB Infrastructure Developers will oversee the management of the project as the appointed project manager.