IRB Infrastructure Trust Executes Concession Agreement for TOT-18 Project with NHAI

IRB Infrastructure Trust's associate company, IRB Infrastructure Developers Ltd, has executed a Concession Agreement with the National Highways Authority of India (NHAI) for the Tolling, Operation, Maintenance & Transfer of Chandikhole - Bhadrak Section of NH-16 in the State of Odisha. The Trust will pay an upfront Bid Concession Fee of Rs. 3,087 Crores to NHAI for a revenue-linked Concession Period of 20 years. The annual tariff will be revised by a fixed 3% p.a. plus 40% of Wholesale Price Index (WPI).