IRB Infrastructure Developers announced that IRB Infrastructure Trust, associate of the company has received a Letter of Award from National Highways Authority of India (NHAI) for the project of involving Tolling, Operation, Maintenance and Transfer of Lucknow-Ayodhya Section of NH-28 (New NH-27) from km 15.400 to km 137.970, Ayodhya-Gorakhpur Section (Km. 136.759 to Km. 252.860) stretch of NH-28 (New NH-27) and Lucknow-Sultanpur Section of NH-731 from Km. 90.370 to km. 217.795 in the state of Uttar Pradesh (TOT-17).

Key highlights of the project:

IRB Infrastructure Developers will be the Project Manager for the Project.

The Trust to pay upfront Bid Concession Fee of Rs. 9,270 crore to NHAI for revenue-linked Concession Period of 20 years.

Trust's asset portfolio will increase by ~20% to ~Rs 65,000 Crore with addition of this project with a long-term revenue & cashflow generation visibility.