NHAI Expects To Raise Rs 54 Billion In Second Round Of TOT Auctions(Photo by Sonu Mehta/Hindustan Times via Getty Images)

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

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