NHAI monetises highways worth Rs 6,584 cr via toll, operate, transfer mode

After struggling with substandard bids, the National Highways Authority of India (NHAI) on Sunday said it awarded two highway monetisation projects worth Rs 6,584 in the toll, operate, and transfer (TOT) mode.

The two bundles (11 & 12) are Allahabad Bypass on NH19 in Uttar Pradesh and Lalitpur–Sagar-Lakhnadon section that passes through Uttar Pradesh and Madhya Pradesh.

The TOT bundle 11 for the 84-km-long Allahabad Bypass has been awarded to Cube Highways and Infrastructure for Rs 2,156 crore. The second bundle for the 316-km-long section has been awarded to IRB Infrastructure Trust for Rs 4,428 crore, the NHAI said.

“The first round of bids for the two bundles was called off and the bids were re-invited. In the second round, the NHAI received bids for Rs 553 crore higher than the first-round bids,” the NHAI said in a press release.

Under the ToT mode, the Centre gives toll collecting rights to private operators for a specific period (20 years in TOT 11 and 12) where they also have to maintain the highways. 

Till now, the NHAI has monetised 1,614 km of projects for Rs 26,366 crore, excluding the latest monetisation through ToT and 636 km of projects for Rs 10,200 crore through its infrastructure investment trust.