NHAI Awards Toll, Operate, And Transfer (TOT) Bundles 13 and 14, Exceeding Monetisation Target
The National Highways Authority of India (NHAI) has successfully awarded TOT bundles 13 and 14, covering a combined length of 273 km, for a staggering amount of Rs. 9,384 Crores. The financial bids, opened on Thursday, 14 November 2023, saw swift action with the approval of concerned authorities leading to the issuance of the Letter of Award to the successful bidders within a day.
The TOT bundle 13, encompassing the Kota Bypass and Stay Bridge on NH-76 in Rajasthan, along with the Gwalior-Jhansi section of NH-75 in Madhya Pradesh and Uttar Pradesh, has been secured by IRB Infrastructure Trust for a sum of Rs. 1,683 crores.
Cube Highways and Infrastructure emerged as the successful bidder for TOT bundle 14, which includes the Delhi-Meerut Expressway, along with the Delhi-Hapur section of NH-9 in Delhi and Uttar Pradesh. Additionally, the bundle involves the Binjabahal to Teliebani section of NH-6 in the state of Odisha, with a winning bid of Rs. 7,701 crores.
The concession period for both TOT bundles is set at 20 years, during which the concessionaires are entrusted with the responsibility of maintenance and operation of the respective stretches. In return, the concessionaires will collect and retain user fees in accordance with the prescribed fee rates under NH Fee Rules.
This successful awarding of TOT bundles 13 and 14 follows the earlier accomplishment in October 2023 when NHAI awarded TOT bundles 11 and 12, covering a combined length of 400 km, for Rs. 6,584 crores. These bundles comprised the Allahabad Bypass on NH-19 in Uttar Pradesh and the Lalitpur–Sagar–Lakhnadon section in Uttar Pradesh and Madhya Pradesh. The cumulative value of the four TOT bundles awarded in FY 2023-24 stands at an impressive Rs. 15,968 crores, exceeding the monetisation target of Rs. 10,000 crores set for the current fiscal year.
The TOT model has been a pivotal tool in encouraging private participation in the highway sector. NHAI's strategic implementation of tolling, operation, and maintenance contracts through TOT has consistently unlocked the value of the road network, contributing significantly to the development of a world-class National Highway Network in the country.
