NHAI targets Rs. 50,000-cr for stalled projects

Ensuring sufficient flow of funds to its on-going and upcoming road projects, the National Highways Authority of India (NHAI) has floated tenders inviting bids to monetize its road assets of Rs 50,000cr. The nodal road building authority expects to lease out around 6,000 km of national highways to private players through the auction route starting next month. Around 50 national highways would be leased out in the next month, mostly for toll collection and maintenance in lieu of the upfront payment to the road authority, Chairman, National Highways Authority of India, Raghav Chandra said, adding that the growing appetite for NHAI's latest move has the potential to kick-start stalled projects in the highways sector. Since most of these highways are currently under constructed, it is just about maintenance, which private players feel comfortable working around with. What could sustain the momentum is the ministry of road transport and highways' ambitious target of adding 50,000 km of national highways over the next five years, said partner and leader of real estate and infrastructure, at advisory auditing and business consultancy firm EY, Gaurav Karnik.