October 30, 2023: The National Highways Authority of India (NHAI) has awarded two highway projects under the toll, operate and transfer model for Rs 6,584 crore. The combined length of the highway projects is 400 km.
The TOT award the 84-km long Allahabad Bypass on the NH19 in Uttar Pradesh has been awarded to Cube Highways and Infrastructure for Rs. 2,156 crore. The 316-km Lalitpur-Sagar-Lakhnadon section that passes through the states of Uttar Pradesh and Madhya Pradesh has been awarded to IRB infrastructure Trust for an amount of Rs 4,428 crore.
These projects were awarded in the second round of bids after the first round of bids was called off by the NHAI. The financial bids were opened on October 27 and letters of award were issued to the successful bidder on October 28 with the approval of the authorities concerned.
Commenting on the successful award of the TOT bundles, NHAI chairman Santosh Kumar Yadav said: “The government has been very supportive and encouraging to achieve the national monetisation targets. I am pleased that we have raised Rs 6,584 crore from these two bundles, which will greatly contribute towards the development of a world-class national highway network in the country.”
The contract period of the TOT is for 20 years in which concessionaires would be required to maintain and operate the stretch. In lieu of this, the concessionaire will collect and retain user fee for these stretches in accordance with prescribed fee rates under the NH fee rules.
The TOT model has been developed to encourage private participation in the highway sector. The NHAI from time to time has awarded contracts for tolling, operation and maintenance of various national highway stretches on the TOT basis.
The TOT Bundle-I, consisting of nine projects, totaling 681 km of national highways in states of Andhra Pradesh and Gujarat, was awarded in 2018. Till now, the NHAI has monetised 1,614 km of projects for Rs 26,366 crore, excluding ToT bundle 11 and 12, through this mode and 636 km of projects for Rs 10,200/ crore through the InVIT.
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