NHAI awards projects worth Rs 9,384cr to successful bidders

New Delhi: NHAI has awarded Toll, Operate and Transfer (TOT) projects of a combined length of 273 km for Rs 9,384 crores to successful bidders, Ministry of Road Transport and Highways said on Monday.

The projects have been clubbed into two categories called bundle 13 and bundle 14. TOT bundle 14, which consists of the Delhi-Meerut Expressway including the Delhi-Hapur section of NH-9 in the states of Delhi and Uttar Pradesh, as well as Binjabahal to Teliebani section of NH-6 in the state of Odisha, has been awarded to Cube Highways and Infrastructure Pte Ltd for Rs 7,701 crores.

The TOT bundle 13 includes Kota Bypass and Stay Bridge on NH-76 in Rajasthan, as well as the Gwalior-Jhansi section of NH-75 in the states of Madhya Pradesh and Uttar Pradesh has been awarded to IRB Infrastructure Trust for Rs. 1,683 crores.

The concession period of TOT bundles is for 20 years in which concessionaires would be required to maintain and operate the stretch.

In lieu of this, Concessionaire will collect and retain user fee for these stretches in accordance with prescribed fee rates under NH Fee Rules.

The TOT model has been developed to encourage private participation in the highway sector, the statement said.

Earlier in October 2023, NHAI awarded TOT bundles 11 and 12 for a combined length of 400 km for Rs 6,584 crore. The two bundles (11 & 12) consisted of Allahabad Bypass on NH19 in Uttar Pradesh and Lalitpur - Sagar - Lakhnadon section in the state of Uttar Pradesh and Madhya Pradesh respectively.

The combined value of the four TOT bundles awarded in FY 2023-24 is around Rs. 15,968 crores which is higher than the monetization target of Rs 10,000 crores for the current fiscal.