IRB Infrastructure Developers Limited has informed the Exchange regarding Update provided by IRB Infrastructure Trust in relation to TOT-18 Project'.
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IRB Infrastructure Trust's Project SPV (IRB Chandibhadra Tollway Pvt. Ltd.) has commenced tolling operations on the Chandikhole-Bhadrak section of NH-16 in Odisha from April 1, 2026. The SPV paid an upfront concession fee of Rs. 3,087 crores to NHAI on March 30, 2026, after achieving financial closure. The concession is revenue-linked for 20 years. The corridor spans 74.5 km (447 lane kms) and forms part of the prestigious Golden Quadrilateral. This is IRB Group's first project in Odisha, expanding its footprint to 13 Indian states. The O&M order book rises by approximately Rs. 1,600 crores due to this project.
The commencement of tolling marks the start of revenue generation from a Rs. 3,087 crore investment, providing a long-term annuity stream over 20 years and strengthening IRB Infrastructure Trust's toll revenue base.