NHAI Awards Toll, Operate, Transfer Bundle 16 for Rs. 6,661 Crores
NHAI has awarded Toll, Operate, and Transfer (TOT) bundle 16 for Rs. 6,661 Crores. 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 M/s Highway Infrastructure Trust for Rs. 6,661 crores.
The concession period of the TOT bundle is 20 years in which Concessionaire will be required to maintain and operate the stretch.
Instead of this, the Concessionaire will collect and retain user fees for the stretch under prescribed fee rates under NH Fee Rules.
Read Also : DRDO Transfers High-Altitude Sustenance Technologies to Power Grid Corporation of India LtdThe 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 a 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.
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.
Read Also : BPCL, IONAGE inks Partnership to Enhance EV Charging InfrastructureCommenting on the successful award of the TOT Bundle-16, NHAI Chairman Shri 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 of achieving the National Monetization targets, and we are committed to working towards realizing this vision.”
Read Also : ONGC Videsh Signs Non-Associated Gas deal in Azeri-Chirag-Deepwater Gunashli (ACG), AzerbaijanNews Must Read
- Gunjan Kumar Sinha recommended for ECL Director Personnel
- Stock market indices surge as global markets rally after Fed rate cut
- NTPC board approves Rs 9,700 cr investment for 800 MW Sipat project
- BPCL Director V.R.K Gupta felicitated as 'PSU CFO' by CII
- HUDCO announces Potential Loan Assistance worth Rs 1 Lakh Crore under PMAY-U 2.0
- India’s Largest Bank, SBI raised Rs. 7,500 cr
- Indian Bank raises Rs. 5,000 Crores through issuance of Bonds
- NLCIL plans three fold increase in its total power generation capacity by 2030
- DVC enters into financial collaboration with State Bank of India
- IREDA Signs MoU with SJVN and GMR for 900 MW Hydropower Project in Nepal