NHAI awarded Four TOT bundles worth Rs.15,968cr in 2023-24
NHAI has awarded Toll, Operate and Transfer (TOT) bundle 16 for Rs.6,661 crores in line with the National Monetization Plan, Ministry of Road Transport and Highways said on 20 Sept.
The financial bids for TOT Bundle-16 were opened on 18 September 2024, for a 251 km long stretch on the Hyderabad-Nagpur corridor of NH-44 in the state of Telangana and it has been awarded to Highway Infrastructure Trust for Rs.6,661 crores, said the Ministry.
The concession period of TOT bundle is for 20 years in which Concessionaire will be required to maintain and operate the stretch. In lieu of this, Concessionaire will collect and retain user fee for the stretch in accordance with prescribed fee rates under NH Fee Rules.
The TOT model has been developed to encourage private participation in the Highway sector. NHAI from time to time has awarded contracts for tolling, operation and maintenance of various National Highway stretches on Toll, Operate Transfer basis.
In FY 2023-24, NHAI awarded Four TOT bundles worth Rs.15,968 crores against the monetization target of Rs.10,000 crores for that fiscal.
Commenting on the successful award of the TOT Bundle-16, NHAI Chairman Santosh Kumar Yadav said, “TOT has been instrumental in unlocking the value of road network and has immensely contributed towards the development of the National Highway Network in the country.
“I am pleased that we have raised Rs.6,661 crores from TOT bundle 16. The success rate of TOT mode in FY24 was 100% and we have seen very encouraging response from the bidders.
“The Government of India has been very supportive to achieve the National Monetization targets, and we are committed to work towards realizing this vision.”
In line with the National Monetization Plan, NHAI’s Total Asset Monetization Program has crossed Rs.1 lakh crore which includes Rs.48,995 crore through TOT, Rs.25,900 crore through InvIT and Rs.42,000 crore through Securitization. Fiinews.com
