Insta
NHAI Expects To Raise Rs 54 Billion In Second Round Of TOT Auctions
Swarajya Staff
Aug 30, 2018, 02:14 PM | Updated 02:14 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
An auction off the second tranche of eight completed national highway projects is set to generate Rs 54 billion. The Ministry of Road Transport and Highways (MoRTH) has invited bids from private companies to hand over eight projects of National Highways Authority of India (NHAI) under the toll-operate-transfer (TOT) mechanism reports Infrastructure Today.
The first, under which the government auctioned nine roads covering 681 km, fetched the government Rs 95 billion, 1.5 times the base price. The ministry has so far identified 75 highways for monetization.
This is the second round of the scheme. Of the eight projects on offer in the second round , two are in Rajasthan, one in Gujarat, one shared between Rajasthan and Gujarat, one in Bihar and three in West Bengal.
The nine-road bundle in the first round has been handed to a consortium of Macquarie-Ashoka Buildcon-Yes Bank. Macquarie has invested Rs 42 billion as equity in the project. The investment by the Australian bank has come through its Macquarie Asia Infrastructure Fund II, a $3.3 billion fund that invests in roads, airports and other infrastructure projects.
Also See:
How Nitin Gadkari Has Changed India’s Highways Sector
Gadkari Discovers A Smart Way To Beat High Land Costs For Building Highways
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.