New Delhi, Oct 27 (PTI) IRB Infrastructure Trust, an associate of IRB, on Friday said it has emerged as the preferred bidder for the 316 Kms long Lalitpur – Lakhnadon stretch of NH 44.
The project was conferred under Toll-Operate-Transfer (TOT) model and involves upfront consideration of Rs 4,428 crore to be paid to the NHAI after achieving financial closure to secure tolling rights for 20 Years (revenue-linked Concession Period), within stipulated time frame, IRB Infrastructure Trust in a statement said.
For IRB Group, this project marks the entry of the company in Madhya Pradesh – the 12th Indian State. The project is likely to be cashflow positive from the first year of operation, the statement added.
TOT-12 project from Lalitpur to Lakhnadon is the single largest major highway link of 316 Kms (1,264 Lane Kms) between Srinagar in North and Kanyakumari in South.
The project covers prime cities in Madhya Pradesh, Viz. Lalitpur, Gwalior, Sagar, Narsinghpur and Lakhnadon and has four Toll Plazas situated at Malthone, Chitora, Titarpani and Bakori. PTI BKS DRR