The National Highways Authority of India (NHAI) announced the awarding of two Toll, Operate and Transfer (TOT) bundles, 11 and 12, with a combined length of 400 km, for a total sum of Rs 65.84 billion. These bundles include the Allahabad Bypass on NH19 in Uttar Pradesh and the Lalitpur ? Sagar -Lakhnadon section in the states of Uttar Pradesh and Madhya Pradesh. Initially, the first round of bids for these bundles was cancelled, prompting NHAI to re-invite bids. During the second round, NHAI received bids that were Rs 5.53 billion higher than those submitted in the first round. The financial bids were unveiled on October 27, 2023. Following the necessary approvals, the Letter of Award was issued to the successful bidder the next day after the financial bids were opened.

Cube Highways and Infrastructure was awarded TOT bundle 11 for the 84 km long Allahabad Bypass on NH19 in Uttar Pradesh, with a winning bid of Rs 21.56 billion. On the other hand, TOT bundle 12 for the 316 km long Lalitpur ? Sagar -Lakhnadon section, traversing Uttar Pradesh and Madhya Pradesh, was awarded to IRB Infrastructure Trust for Rs 44.28 billion.

Santosh Kumar Yadav, Chairman, NHAI, expressed his satisfaction regarding the successful awarding of the TOT Bundles, acknowledging the crucial support from the government to achieve the national monetization targets. He stated, ?The Government has been very supportive and encouraging to achieve the national monetization targets. I am pleased that we have raised Rs 65.84 billion from these two bundles, which will greatly contribute towards the development of a world class National Highway Network in the country.?

The contract period for TOT is 20 years, during which Concessionaires are responsible for maintaining and operating the stretch. In return, the Concessionaire will collect and retain user fees for these stretches in accordance with prescribed fee rates under NH Fee Rules.