IRB Infra to manage Rs 2,663 cr toll road projects for IRB InvIT
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Board approved Project Implementation Agreements with IRB InvIT Fund and two project SPVs (Solapur Yedeshi Tollway and CG Tollway) to act as Project Manager. Contract is worth approximately Rs 2,663 crore on fixed price basis over about 18 years, covering highway sections in Maharashtra and Rajasthan. Appointment becomes effective after transfer of 100 percent equity of the SPVs from IRB Infrastructure Trust to the Public InvIT. Declared not a related party transaction.
Secures long-term Rs 2,663 cr project management mandate over 18 years, providing recurring revenue visibility for IRB Infra from group InvIT assets.