Offshore infra players bats for TOT Model

    TOT Highway Projects
    Under the Toll Operate-Transfer (TOT) model, which is aimed at monetizing India's publicly funded national highway projects, whereby, the National Highways Authority of India plans to lease as many as 75 operational national highway projects generating toll revenues for at least two years. Singapore-based Cube Highways and Infrastructure Pvt. Ltd, is currently negotiating with Canadian pension fund Caisse de Dépôt et Placement du Québec (CDPQ) to generate $200 million ensuring funding flow for the targeted projects. Cube Highways is a joint venture between private equity firm I Squared Capital and International Finance Corp. (IFC), the private investment arm of the World Bank and both have invested heavily in India's infrastructure sector as CDPQ, the second largest pension fund in Canada, has invested around $3 billion till date in the infrastructure sector in India. Under the TOT model, the right of collection of user-fee or toll in respect of selected operational national highway stretches constructed through public funding is proposed to be assigned for a specific period to developers and investors against upfront on time payment to the government.
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