On offer: 12 Toll Plazas for 586-km of NH
The submission of bids investors for second bundle of Toll-Operate-Transfer (TOT) for over 586-km of National Highways (NH) will close on 19 Dec 2018.
This Highways with 12 Toll Plazas are over four states – Rajasthan, Gujarat, West Bengal and Bihar.
Road Transport & Highways Minister Nitin Gadkari had initiated this process through a Road Show in Mumbai on the 15 Nov 2018, inviting prospective investors to be a part of the TOT projects.
Foreign investors have expressed huge interest in the concept during the bid process of TOT Bundle I.
TOT Bundle II offers operational highways with a proven tolling history of at least 2 years.
Rajasthan: Chittorgarh – Kota & Chittorgarh Bypass 160-50-km NH 27 with 3 Toll Plazas.
Rajasthan: Swaroopganj – Pindwara & Pindwara – Udaipur 1200 NH 27 with 2 Toll Plazas.
Rajasthan-Gujarat: Palanpur/Khemana-Abu Road 45-km NH 27 with one Toll Plaza.
Gujarat: Jetpur Somnath 102.26-km NH 151 with two Toll Plazas.
Bihar: Purnea Dalkhola 36.30-km NH 31 with one Toll Plaza.
West Bengal: Dalkhola Islampur 51.97 km NH 31 with one Toll Plaza.
West Bengal: Islampur-Sonapur–Ghoshpukur 44-km NH 31 one Toll Plaza.
West Bengal: Salsalabari-West Bengal Assam Border Section 26.50-km NH31C one Toll Plaza.
TOT is a model for monetizing operational National Highways projects, said a release Ministry of Road Transport and Highways on 4 Dec 2018.
The investor makes a lump sum payment in return for long term toll collection rights backed by a sound tolling system.
The concession period is 30 years.
Up to 49% divestment is allowed till two years of the concession period.
Up to 10% change in ownership is allowed after two years.
The investor is de-risked from undertaking any construction.
If required, the National Highway Authority of India (NHAI) will conduct capacity augmentation at its own cost.
The first TOT bundle of 9 projects, totalling approximately 681-km of roads in Andhra Pradesh and Gujarat, was awarded in 2018.
TOT Bundle-I was awarded to Macquarie for Rs.9,681 Crore, which was 1.5 times the Authority’s estimate. NHAI did a financial closure of this project 29 of August 2018 in New Delhi. fiinews.com