IRB Infrastructure Emerges As Preferred Bidder For Kota Bypass

IRB Infrastructure has said a trust it operates has been selected as the preferred bidder for the National Highway Authority of India's Kota Bypass and Cable Stay Bridge on national highway 76 in Rajasthan and the Gwalior-Jhansi section in Madhya Pradesh and Uttar Pradesh, respectively.

Under the Toll-Operate-Transfer model, the 110.28 km project requires an upfront payment of Rs 1,683 crore to NHAI after securing tolling rights for 20 years upon financial closure, according to the exchange filing.

The statement highlights that the project is expected to generate positive cash flow from its inaugural year of operations. Upon inclusion of this project, the trust's asset portfolio is set to increase by 4.3% to reach Rs 47,000 crore.