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04
December 2018
 |
Road(The
Total Investment & Insurance Solutions)
The road ministry Tuesday said interested
players could bid for the second tranche of eight highway projects under the
toll-operate-transfer (TOT) model till December 19.
After
huge success of the maiden bundle of nine highway projects under TOT that
fetched NHAI Rs 9,681 crore, the government has come out with the second
tranche. "The submission of bids for second bundle of TOT will close on
the 19th of this month.
This bundle consists of over 586 km of
national highways, spread over four states Rajasthan, Gujarat, West Bengal and
Bihar," the Ministry of Road Transport and Highwayssaid in a statement. The Total Investment & Insurance
Solutions
The offer has 12 toll plazas across four
highways. Road Transport Minister Nitin Gadkari had through a road show in
Mumbai last month had invited prospective investors to be a part of the TOT
projects.
TOT is
a model for monetising operational national highway projects. The investor
makes a lump sum payment in return for long-term toll collection rights backed
by a sound tolling system. The concession period is 30 years.
Up to 49 per cent divestment is allowed till
two years of the concession period while up to 10 per cent change in ownership
is allowed after two years.
"The investor is de-risked from
undertaking any construction. If required, NHAI will conduct capacity
augmentation at its own cost," the statement said.
The first TOT bundle of 9 projects, totalling
approximately 681 km of roads in two states of Andhra Pradesh and Gujarat, was
awarded in 2018 after huge interest shown by foreign investors.
TOT Bundle-I was awarded to Macquarie for Rs
9,681 crore, which was 1.5 times the authority's estimate. The National
Highways Authority of India did a financial closure of this project with the
India chief of Macquarie handing over a cheque for Rs 9,681.5 crore to Gadkari
on August 29 this year.
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