Mumbai: IRB Harihara Corridors Pvt. Ltd., the Project SPV of IRB Infrastructure Trust (An Associate of IRB Infrastructure Developers Ltd.) has commenced Tolling on the Lucknow-Ayodhya-Gorakhpur NH-27 and Lucknow-Sultanpur section of Lucknow-Varanasi NH-731 from 00.00 Hrs from 23rd January 2026.
The Project SPV made payment of upfront Concession Fee of Rs.9,270Crs to the National Highway Authority of India (NHAI) on 22nd January 2026 after achieving Financial Closure for the project. The SPV has also received Appointed Date to start tolling on the project for a revenue linked concession period of 20 years.
Virendra D. Mhaiskar, Chairman and Managing Director of IRB Group said, “We are happy to announce the Financial Closure of our TOT-17 Project on the auspicious occasion of the second Consecration Anniversary of Ram Lalla at Shri Ram Mandir, Ayodhya, performed by our Hon’ble Prime Minister of India, Shri Narendra Modi ji. With this acquisition, we have added another jewel to our asset portfolio.”
He further said, “This corridor has exceptional cultural and spiritual significance as it connects India’s most revered religious and cultural cities. It will play a vital role in enabling safe, efficient, and seamless travel for millions of pilgrims and commuters, while contributing meaningfully to regional development.”.
He added, “We sincerely thank NHAI, our lender – Union Bank of India, our partners–GIC, Singapore and Ferrovial Group–and all other stakeholders for their continued support and trust.
To reiterate, IRB Infrastructure Trust had emerged as the highest bidder for NHAI’s TOT-17 bundle that comprises two highway corridors, viz., Lucknow-Ayodhya-Gorakhpur (NH27) and Lucknow-Sultanpur stretch of Lucknow-Varanasi (NH731) with aggregate length of 366Kms – tollable length of approx. 435 kms (approx.1,600 Lane Kms) and had received Letter of Award on 14th November 2025. The Project SPV signed Concession Agreement with NHAI on 12th December 2025.
