Infrastructure
A project executed by NHAI.
The National Highways Authority of India (NHAI) has auctioned two completed highway stretches for Rs 6,584 crore under its monetisation programme.
The NHAI had rebid the projects under the toll, operate and transfer (TOT) model and this time it got nearly 9 per cent higher price than the last time.
The first project — 84-km Allahabad Bypass in Uttar Pradesh — has been bagged by Cube Highways, quoting Rs 2,156 crore, while the IRB Infra Trust has got the Lalitpur-Sagar-Lakhnadon (316 km) project in Uttar Pradesh and Madhya Pradesh at Rs 4,428 crore.
The contract period is for 20 years during which these private players will maintain and operate these corridors. They will be allowed to collect user fee (toll) as notified by the government and retain them for recovery of their investment.
This is the first set of the TOT model projects that NHAI has completed this financial year and targets to bid out a couple of more bundles of highway projects before March.
NHAI officials said that the authority getting a better price in the rebidding signals that they will sell projects only when there is good revenue.
“As such we are getting the toll from all operational highways and so there is no hurry to auction projects, if we don’t get a good price. The revenue from auctioning of more projects is going to grow as we offer projects which we are getting back from private players after the end of their concession period,” NHAI maintains.
In the past five years, the NHAI has monetised 1,614 km of operational national highway projects for Rs 26,366 crore. This excludes the recent two projects. It has also raised Rs 10,200 crore through InVIT for 636 km of national highway stretches.
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.
Latest