Mumbai, Jan. 7 -- Under the concession, IRB Infrastructure Trust will pay an upfront concession fee of Rs 3,087 crore to NHAI for a revenue-linked concession period of 20 years. The project forms part of NHAI's asset monetization program and marks IRB's entry into Odisha.

The LoA covers a 74.5-km stretch of the Chandikhole-Bhadrak corridor, part of the government's Golden Quadrilateral Project.

Virendra D. Mhaiskar, chairman & managing director of IRB Infrastructure Developers, said, "This award places us on a fast track to building an asset portfolio of Rs 1 lakh crore in the near future, the largest by any private toll road developer in India. The addition of TOT-17 and TOT-18 together will enhance the toll revenues by about Rs 1,000 ...