In a bid to ensure adequate fund flow to the road sector, the government's asset monetization plan has been placed on fast track as it has decided to offer 550 km of roads to private firms to operate and collect toll charges. NHAI will invite bids for roads under the toll-operate-transfer (TOT) plan in Tamil Nadu, Uttar Pradesh, Bihar and Jharkhand which are expected to fetch about ₹5,000 crore. Details of the third round of auctions are being expedited and bids will be invited shortly, said official sources. The government introduced the TOT model in 2016 to monetize publicly funded highways. Under the program, the long-term toll collection rights are sold to investors in return for one-time lump sum payment for a lease period of 30 years. The TOT model helps raise resources in the sector and attract private funding, which has remained subdued. The first round of TOT auctions for 680 km of highways that ended in February 2018, fetched over ₹9,000 crore when Macquarie Group won the auction with a bid of ₹9,681 crore against NHAI's estimated value of ₹6,258 crore.
📅Published on:
28 May 2019
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