IRB’s subsidiary inks Rs 44.28 billion concession deal with NHAI

IRB Infrastructure Developers’ subsidiary, IRB Lalitpur Tollway, has finalised a concession agreement with the National Highways Authority of India (NHAI) for the toll-operate-transfer (TOT) project on NH-44, the Lalitpur-Sagar-Lakhnadon section in Uttar Pradesh and Madhya Pradesh.
The special purpose vehicle (SPV) will make an upfront payment of Rs 44.28 billion for tolling, operation, maintenance, and transfer responsibilities along the stretch.
The TOT agreement spans a 20-year concession period with an annual tariff revision featuring a fixed raise of 3 per cent and 40 per cent linked to the wholesale price index (WPI).