Adani Group Firm Tops Bids For Managing 124-Km National Highway Stretch In Tamil Nadu Under TOT Model With Rs 1,692 Crore Offer

Adani Road Transport has emerged as the top bidder to manage a 124-km national highway stretch in Tamil Nadu under the toll-operate-transfer (TOT) model, with a Rs 1,692 crore offer.

Adani Group's bid was followed by IRB Infrastructure Developers with Rs 1,485 crore, Epic Concessions at Rs 1,152 crore, and Prakash Asphaltings & Toll Highways with Rs 876 crore, all competing for the four-lane Trichy-Thuvarankurichi-Madurai section on NH-38.

Financial bids were opened by the National Highways Authority of India (NHAI) on Tuesday (14 January).

The contract is likely to be awarded to the highest bidder following board approval, according to a senior government official cited by Economic Times.

NHAI, which operates under the Ministry of Road Transport and Highways, conducted the auction for TOT Bundle 15 in mid-2024.

The TOT model involves leasing highway assets to private firms, granting them rights to operate, maintain, and collect tolls over 15-30 years in exchange for a one-time upfront concession fee paid to the government.

NHAI has identified 86 national highway stretches with an aggregate length of about 4,912 km for monetisation.

Before Bundle 15, five stretches—11, 12, 13, 14, and 16—had been monetised, and three additional awards are expected before the fiscal year's conclusion.

NHAI aims to generate Rs 54,000 crore in fiscal year 2025 through road asset monetisation to fund new projects and reduce debt.

As of December 2024, the authority’s total debt stood at around Rs 2.76 lakh crore.

The contract for TOT Bundle 16 was secured by Highways Infrastructure Trust in September 2024.

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