IRB Infrastructure Trust has announced the execution of the Concession Agreement for the TOT-18 Project by its SPV, IRB Chandibhadra Tollway Private Limited, with NHAI. This project involves Tolling, Operation, Maintenance & Transfer of the Chandikhole – Bhadrak Section of NH-16 in Odisha, spanning from Km 62+000 to Km 136+500. The Trust will pay an upfront Bid Concession Fee of ₹3,087 Crores.
TOT-18 Project Agreement Executed
IRB Infrastructure Trust’s Project SPV, IRB Chandibhadra Tollway Private Limited, has executed the Concession Agreement with the National Highways Authority of India (NHAI) for the TOT-18 Project. This was disclosed on February 4, 2026.
Project Details
The project involves the Tolling, Operation, Maintenance & Transfer of the Chandikhole – Bhadrak Section of NH-16 in the State of Odisha (From Km 62+000 to Km 136+500). The project length is approximately 74.50 km. Tolling and O&M activity will commence from the Appointed Date.
Concession Fee and Period
The Trust will pay an upfront Bid Concession Fee of ₹3,087 Crores to NHAI. The concession period is revenue-linked for 20 years.
Tariff Revision
The annual tariff revision will be fixed at 3% per annum, plus 40% of the Wholesale Price Index (WPI).
Project Management
IRB Infrastructure Developers Ltd will be the Project Manager for the project.
Source: BSE
