The National Highways Authority of India (NHAI) has achieved a significant milestone by successfully awarding Toll, Operate, and Transfer (TOT) bundles 13 and 14, covering a combined stretch of 273 km, for Rs 9,384 crores. This accomplishment brings the total TOT bundles awarded in the current fiscal year to an impressive Rs 15,968 crore, surpassing the fiscal monetization target of Rs 10,000 crores set for 2023-24. The Ministry of Road Transport and Highways highlights that the TOT model, fostering private participation in the highway sector, continues to play a pivotal role in advancing the nation's road network development.
The National Highways Authority of India (NHAI) has successfully awarded Toll, Operate, and Transfer (TOT) bundles 13 and 14, covering a combined stretch of 273 km, for a whopping Rs 9,384 crores. This has propelled the total TOT bundles awarded in the fiscal year 2023-24 to an impressive Rs 15,968 crore, crossing the fiscal monetization target of Rs 10,000 crores set for the current fiscal year.
This follows the awarding of TOT bundles 11 and 12 in October 2023, covering a combined length of 400 km for Rs 6,584 crore. These bundles included the Allahabad Bypass on NH19 in Uttar Pradesh and the Lalitpur - Sagar Lakhnadon section in Uttar Pradesh and Madhya Pradesh, respectively.
According to a statement released by the Ministry of Road Transport and Highways, TOT bundle 13, comprising the Kota Bypass and Stay Bridge on NH-76 in Rajasthan, as well as the Gwalior-Jhansi section of NH-75 in Madhya Pradesh and Uttar Pradesh, has been awarded to IRB Infrastructure Trust for Rs 1,683 crores.
Meanwhile, TOT bundle 14, encompassing the Delhi-Meerut Expressway, including the Delhi-Hapur section of NH-9 in Delhi and Uttar Pradesh, as well as the Binjabahal to Teleibani section of NH-6 in Odisha, has been secured by Cube Highways and Infrastructure for a staggering Rs 7,701 crore.
The Ministry's statement also highlighted that the concession period for TOT bundles is set at 20 years, during which concessionaires will be responsible for the maintenance and operation of the respective stretches. In return, the concessionaires will collect and retain user fees for these stretches based on the prescribed fee rates under NH Fee Rules.
The TOT model, designed to encourage private participation in the highway sector, has proven instrumental in unlocking the value of the road network. The statement underlines that TOT has significantly contributed to the development of a world-class national highway network in the country.
Advertisement
Facebook
Whatsapp
