"IRB Infra Trust Emerges as Selected Bidder for Kota Bypass and Cable Stay Bridge on NH-76"

IRB Infrastructure Trust announced on Thursday that it has been selected as the preferred bidder for the National Highways Authority of India's (NHAI) Kota Bypass and Cable Stay Bridge on NH-76 (New NH-27) in Rajasthan, as well as the Gwalior-Jhansi section in Madhya Pradesh and Uttar Pradesh.

The 110.28 km project, comprising 441 lane km, falls under the Toll-Operate-Transfer (TOT) model and involves an upfront consideration of Rs. 1,683 crore. This amount is to be paid to NHAI after achieving financial closure to secure tolling rights for a duration of 20 years.

According to a statement from IRB Infrastructure Trust, the project is expected to be cashflow positive from the first year of operations. Virendra D Mhaiskar, Chairman and Managing Director of IRB Infrastructure Developers Ltd, highlighted that this project further strengthens IRB Infra's position in the TOT space, where the company has committed an upfront payment of Rs. 22,000 crore to the government across four projects.

ET