IRB Infrastructure Trust has secured the Letter of Award (LoA) from the National Highways Authority of India (NHAI) for the TOT-18 bundle in Odisha. The project involves tolling, operation, maintenance, and transfer of the Chandikhole-Bhadrak section of NH-16. IRB is set to pay an upfront bid concession fee of Rs. 3,087 Crores to NHAI for a 20-year concession period.
New Project Award
IRB Infrastructure Trust, sponsored by IRB Infrastructure Developers Ltd., has received a Letter of Award (LoA) from the National Highways Authority of India (NHAI) for the TOT-18 bundle, as announced on January 6, 2026. This marks IRB’s entry into Odisha’s infrastructure landscape.
Project Details
The project encompasses the Tolling, Operation, Maintenance, and Transfer of the Chandikhole – Bhadrak Section of NH-16 in Odisha, spanning from Km 62+000 to Km 136+500. The section stretches approximately 74.50 km and is also known as TOT Bundle 18.
Financial Commitment
IRB Infrastructure Trust will pay an upfront Bid Concession Fee of Rs. 3,087 Crores to NHAI. The concession period is revenue-linked and spans 20 years. The annual tariff revision includes a fixed 3% increase per annum plus 40% of the Wholesale Price Index (WPI).
Strategic Impact
Post the addition of this project, IRB Group anticipates a substantial increase in toll revenue and expects its asset base to reach approximately Rs. 94,000Crs. The company’s market share in the TOT segment is projected to rise to approximately 44%, with the O&M order book expected to grow by around Rs.1,600Crs. IRB’s share in the Golden Quadrilateral project enhances to approximately 16%.
Source: BSE
