IRB Infrastructure Trust has bagged Rs 1,683-crore contract from the National Highways Authority of India (NHAI) for TOT-13.

The contract comprises of Gwalior-Jhansi section on NH-44 and Kota Bypass on NH 76 projects.

The Trust emerged as a preferred bidder for the revenue-linked concession of 20 years.

Virendra D Mhaiskar, Chairman & Managing Director, IRB Infrastructure Developers Ltd, said, “This project will take our share in the North-South connectivity to approx. 12 per cent; our aggregate asset base to nearly ₹77,000 crore with a robust market share in TOT space to around 38 per cent, the largest by any private transport infrastructure developer in roads and highways segments in India.”

The receipt of LoA will now enable the Trust to form Project Special Purpose Vehicle (SPV) for signing Concession Agreement with the Nodal Agency, and subsequently proceed for financial closure within stipulated time frame, the company said in its regulatory filing.