NHAI awards TOT Bundle to Highway Trust for Rs 66 Bn

24 Sep 2024 CW Team

The National Highways Authority of India (NHAI) announced that it had awarded Toll, Operate and Transfer (TOT) Bundle 16 to Highway Infrastructure Trust for Rs 66.61 billion. The TOT Bundle 16 consists of a 251 km stretch along the Hyderabad-Nagpur corridor on NH-44 in Telangana, according to the Ministry of Road Transport and Highways.

The concession period for the bundle is 20 years, during which the concessionaire is responsible for maintaining and operating the stretch. In return, the concessionaire will collect and retain user fees, in accordance with the National Highway Fee Rules.

The ministry explained that the TOT model was developed to encourage private sector involvement in the highway sector. During FY 2023-24, NHAI awarded four TOT bundles worth Rs 159.68 billion, surpassing the previous financial year’s monetisation target of Rs 100 billion.

NHAI Chairman Santosh Kumar Yadav remarked that the TOT model had been key in unlocking the value of the road network, significantly contributing to the development of national highways in India.

As part of the National Monetization Plan, NHAI’s total asset monetisation efforts have exceeded Rs 1 lakh crore, including Rs 489.95 billion from TOT, Rs 259 billion through Infrastructure Investment Trusts (InvIT), and Rs 420 billion through securitisation.

In December of the previous year, NHAI awarded TOT Bundle 13 to IRB Infrastructure Trust for Rs 1.683 billion and TOT Bundle 14 to Cube Highways for Rs 77 billion. The government's National Monetisation Pipeline aims to monetise assets worth Rs 6 trillion, with Rs 1.60 trillion expected to come from road asset monetisation between 2021-22 and 2024-25.

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