NHAI to launch third and fourth rounds of InvITs

01 Jun 2023 CW Team

The National Highways Authority of India (NHAI) has announced plans to launch the third and fourth rounds of Infrastructure Investment Trusts (InvITs) in the current financial year (2023-24) with the goal of raising more than Rs 200 billion.

The third tranche of InvIT is expected to be released in June, with NHAI aiming to raise Rs 120 billion through this offering. The delay in the third round was due to taxation issues, which were resolved by the government in March of this year.

In the Union Budget for the fiscal year 2024, the government initially proposed taxing income distributed by business trusts like Real Estate Investment Trusts (REITs) and InvITs in the form of debt repayments for unitholders. However, the government later decided to provide relief to investors by treating business distributions as a return of capital.

The InvIT is a crucial component of the National Monetization Plan, which aims to monetize road projects. The initial portfolio of the InvIT includes five toll roads with a combined length of 390 kilometers, located in Gujarat, Karnataka, Rajasthan, and Telangana. These roads have been granted new concessions ranging from 15 to 30 years.

In December 2019, the Union Cabinet approved the NHAI's proposal to establish an InvIT and monetize national highway projects. This move allows NHAI to monetize completed national highways with a minimum of one year of toll collection history. NHAI also retains the right to levy tolls on the identified highways.

The first NHAI InvIT attracted anchor investors, namely the Canadian Pension Plan Investment Board and Ontario Teachers' Pension Plan, who each acquired 25 per cent equity in the trust.

Also Read
Maharashtra government invites Tesla to set up factory in the state
Andhra initiates Rs 630 cr road construction in Nandyala

Real Estate

13 Oct 2026

Adani begins construction of Dharavi rehabilitation homes

Construction of rehabilitation homes for eligible Dharavi residents has commenced at the 22-acre Matunga railway site, following a Bhoomi Poojan ceremony performed by Pranav Adani, Director, Adani Enterprises (AEL). The project, being implemented by Adani Navbharat Developers (ANDPL), envisages 10 towers comprising 10,432 rehabilitation apartments and 1,379 commercial and industrial units.Under the in-situ rehabilitation scheme, eligible residents will receive homes measuring 350 sq ft. Residents from Sectors 6 and 1 will be accommodated at Matunga first, followed by nearly 4,500 apartments fo..

Adani begins construction of Dharavi rehabilitation homes

Construction of rehabilitation homes for eligible Dharavi residents has commenced at the 22-acre Matunga railway site, following a Bhoomi Poojan ceremony performed by Pranav Adani, Director, Adani Enterprises (AEL). The project, being implemented by Adani Navbharat Developers (ANDPL), envisages 10 towers comprising 10,432 rehabilitation apartments and 1,379 commercial and industrial units.Under the in-situ rehabilitation scheme, eligible residents will receive homes measuring 350 sq ft. Residents from Sectors 6 and 1 will be accommodated at Matunga first, followed by nearly 4,500 apartments fo..

Seven Propel 470 HEV electric tippers go to work on coal haulage in Chhattisgarh

Propel EV, the electric mobility division of Propel Industries and India's No. 1 electric tipper brand, has deployed seven 470 HEV electric trucks with a leading coal-haulage contractor at one of India's largest opencast coal mines in Chhattisgarh. The trucks are in daily operation, moving coal on continuous haul cycles in one of the most demanding applications in Indian mining.Why Electric - and Why CoalCoal haulage runs round the clock: heavy loads, long haul cycles, steep ramps and abrasive dust. It is also where diesel hurts most. Engines run continuously, fuel is the largest single operat..

NHAI to launch third and fourth rounds of InvITs

Related Stories

Gold Stories

Adani begins construction of Dharavi rehabilitation homes

Adani begins construction of Dharavi rehabilitation homes

Seven Propel 470 HEV electric tippers go to work on coal haulage in Chhattisgarh

Related Articles

Latest Updates

Recommended for you

Advertisement

Subscribe to Our Newsletter

STAY CONNECTED

Advertisement

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address