IRB Infrastructure Trust commences tolling on TOT-18 Project (Odisha) from April 1, 2026
IRB Infrastructure Trust's SPV has commenced toll collection on the TOT-18 Project in Odisha from April 1, 2026. The SPV paid ₹3,087 crore as upfront concession fee and secured tolling rights for 20 years. This is IRB Group's first project in Odisha, marking its presence in 13 states.
The project marks the company's entry into a new state (Odisha), expands its operational footprint, and is expected to contribute significantly to toll revenue growth, thus having a high impact on the company's business.
The commencement of toll collection and payment of concession fees signifies a positive development for the company, indicating successful project execution and revenue generation potential.
IRB Infrastructure Trust, an associate of IRB Infrastructure Developers Limited, has commenced toll collection on the Chandikhole-Bhadrak Section of NH-16 (TOT-18 Project) in Odisha, effective April 1, 2026. The Project SPV, IRB Chandibhadra Tollway Private Limited, paid an upfront concession fee of ₹3,087 crore to NHAI and received April 1, 2026, as the Appointed Date.
This marks IRB Group's entry into Odisha, its 13th Indian state, strengthening its presence in the Golden Quadrilateral corridor. The project spans 74.5 Kms (447 Lane Kms) and has a revenue-linked concession period of 20 years. The O&M order book for this asset is approximately ₹1,600 crore.
Mr. Virendra D. Mhaiskar, Chairman and Managing Director of IRB Group, expressed pleasure in entering Odisha and highlighted the project's strategic importance in connecting the Southern and Eastern regions. He also thanked NHAI, lenders like Union Bank of India, and partners GIC and Ferrovial Group for their support, anticipating strong toll revenue growth from this project. IRB Infrastructure Trust had emerged as the highest bidder for this project, signing the Concession Agreement with NHAI on February 4, 2026.
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