IRB Infra Achieves Financial Closure
IRB Infrastructure Developers recently said it has achieved the Rs. 6,610 crore financial closure for its first and India’s largest TOT (toll-operate-transfer) project ‘Mumbai Pune Expressway’.
As a commitment towards the fee obligations in concession agreement, the company made the payment of first tranche of Rs. 6,500 crore as upfront sub-concession fee to the Maharashtra State Road Development Corporation, it said.
The project length is 205.4 km, including expressway and section of NH-48, old Mumbai Pune corridor. After having managed the concession for 15 years until August 2019, IRB Infra won this concession again in February 2020 for subsequent 10 years and 2 months.
This is India’s single largest concession under the TOT model for tolling and O&M, which commenced from March 1, 2020.
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