IRB Infrastructure-Cube Highways given Letters of Award, says MoRTH
The National Highway Authority of India (NHAI) has awarded Toll, Operate and Transfer (TOT) bundles 13 and 14 of a combined length of 273 km for Rs.9,384 crores, the Ministry of Road Transport and Highways (MoRTH) said on 18 Dec 2023.
The financial bids were opened on 14 Nov 2023. With the approval of the concerned authorities, the Letters of Award has been issued within a day to the successful bidders.
The TOT bundle 13 includes Kota Bypass and Stay Bridge on NH-76 in Rajasthan, as well as the Gwalior-Jhansi section of NH-75 in the states of Madhya Pradesh and Uttar Pradesh. This bundle has been awarded to IRB Infrastructure Trust for Rs.1,683 crores.
TOT bundle 14, which consists of the Delhi-Meerut Expressway including the Delhi-Hapur section of NH-9 in the states of Delhi and Uttar Pradesh, as well as Binjabahal to Teliebani section of NH-6 in the state of Odisha, has been awarded to Cube Highways and Infrastructure Pte Ltd for Rs.7,701 crores.
The concession period of TOT bundles is for 20 years in which Concessionaires would be required to maintain and operate the stretch. In lieu of this, Concessionaire will collect and retain user fee for these stretches in accordance with prescribed fee rates under NH Fee Rules.
Earlier in October 2023, NHAI awarded TOT bundles 11 and 12 for a combined length of 400 km for Rs.6,584 crore.
The two bundles (11 & 12) consisted of Allahabad Bypass on NH19 in Uttar Pradesh and Lalitpur – Sagar -Lakhnadon section in the state of Uttar Pradesh and Madhya Pradesh respectively.
The combined value of the four TOT bundles awarded in FY 2023-24 is around Rs.15,968 crores which is higher than the monetization target of Rs.10,000 crores for the current fiscal.
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.
TOT has been instrumental in unlocking the value of road network and has contributed towards the development of a world class National Highway Network in the country, said NHAI. Fiinews.com
