Insta
NHAI Signs First Toll-Operate-Transfer Agreement With Australian Firm For Rs 9,681 Crore
Swarajya Staff
Apr 27, 2018, 03:49 PM | Updated 03:49 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
The National Highways Authority of India (NHAI) today (27 April) signed its first toll-operate-transfer (TOT) agreement with Sydney-based Macquarie group, reports The Economic Times. Under the TOT model, the concessionaire will be allowed to collect toll on assigned national highways (NHs) for a period of 30 years on upfront payment.
The Australian firm is being given nearly 700 km of NHs for Rs 9,861.5 crore. The highways in question will be in the states of Gujarat and Andhra Pradesh.
The company had emerged as the highest bidder when NHAI opened the package for bids earlier this year. Macquarie has to make the payment within 120 days.
Member of finance for the NHAI, Rohit Singh said that the project was among the largest foreign investments in India’s infrastructure sector.
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.