Deals14 Dec 2023, 10:19 pm
IRB Infrastructure Trust Emerges as Preferred Bidder for TOT Bundle 13 Project
AI Summary
IRB Infrastructure Trust has been selected as the preferred bidder for the TOT Bundle 13 project, a toll operate and transfer project on NH-76 and NH-75 in Rajasthan and Madhya Pradesh. The project involves the tolling, operation, maintenance, and transfer of Kota Bypass and Cable Stay Bridge, with a concession fee of Rs. 1,683 crores and an annual tariff revision of 3% p.a. plus 40% of Wholesale Price Index (WPI). The addition of this project to the trust's asset portfolio is expected to increase its asset value by approximately 4.3% to ~Rs 470bn with a long-term revenue and cash flow generation visibility.,
Key Highlights
- Preferred bidder for TOT Bundle 13 project
- Tolling, operation, maintenance, and transfer of Kota Bypass and Cable Stay Bridge
- Concession fee of Rs. 1,683 crores
- Annual tariff revision of 3% p.a. plus 40% of Wholesale Price Index (WPI)
- Addition of this project to the trust's asset portfolio expected to increase asset value by approximately 4.3% to ~Rs 470bn with a long-term revenue and cash flow generation visibility