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

IRB Lalitpur Tollway, a subsidiary of IRB Infrastructure Developers, has finalised a concession agreement with the National Highways Authority of India for the toll-operate-transfer project on NH-44. It encompasses the Lalitpur-Sagar-Lakhnadon section across Uttar Pradesh and Madhya Pradesh. The SPV will make an upfront payment of Rs 44.28 billion for tolling, operations and maintenance, and transfer responsibilities along the stretch. The agreement entails a 20-year concession period with an annual tariff revision, which includes a fixed raise of 3 per cent and 40 per cent linked to the wholesale price index.