MoRTH approves ownership for BOT toll projects to one year after COD

The Ministry of Road Transport and Highways (MoRTH) has approved changes to the Model Concession Agreement (MCA) for Build-Operate-Transfer (BOT-toll) projects, allowing for the change of ownership from the existing two years to one year after the Commercial Operation Date (COD). Previously, the change of ownership of such companies was permitted two years following the start of operations. According to the media sources, the concessionaires requesting a change of ownership should not be in arrears on premium payments to the government-owned National Highways Authority of India (NHAI). The Inter-Ministerial Committee (IMC) discussed a modification in ownership terms in the MCA of the BOT (Toll) project at its meeting on April 1, 2022. IMC agreed to the suggestion allowing for a change of ownership from two to one year following COD. Following that, the plan was accepted by road transport and roads minister Nitin Gadkari. Image Source Also read: NHAI to develop an expressway connecting Kurnool to Solapur