IRB Infrastructure Trust on Thursday said it has emerged as the preferred bidder for NHAI's Kota Bypass and Cable Stay Bridge on NH-76 (New NH-27) in Rajasthan and Gwalior-Jhansi section in Madhya Pradesh and Uttar Pradesh, respectively.
In a statement, IRB Infrastructure Trust said the 110.28 km (441 lane km) project is under Toll-Operate-Transfer (TOT) model and involves upfront consideration of Rs 1,683 crore to be paid to the NHAI after achieving financial closure to secure tolling rights for 20 years.
According to the statement, the project will be cashflow positive from the first year of operations.
Chairman and Managing Director of IRB Infrastructure Developers Ltd., Virendra D Mhaiskar, said the project has strengthened IRB Infra's position further in the TOT space, which involves upfront payment of Rs 22,000 crore to the government across four projects.
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