Brookfield bags Rs. 6,300-cr motorway projects

    Brookfield bags Rs. 6,300-cr motorway projects
    In a recent development, Canadian alternative resources and infrastructure owner Brookfield Asset Management and an investment firm backed by Gulf sovereign fund Abu Dhabi Investment Authority (ADIA) have emerged the final bidders seeking to run access controlled Indian motorway projects worth about Rs 6,300 crore, said sources, adding that Squared Capital, which is anchored by ADIA, are locked in the race to operate and manage nine road projects for the National Highways Authority of India (NHAI). Bidding for these projects, which NHAI is offering on a toll-operate-transfer (TOT) basis in the second phase of its asset-monetization plan for which only investors with deep pockets could bid for these projects since an upfront payment has to be made. The contracts run for 30 years and bidders must make an upfront payment of $1 billion to National Highways Authority of India. Andhra Pradesh & Gujarat are the states having state-run highway builders seeking to monetize nine projects of the 75 earmarked under the TOT model.
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