NHAI Awards TOT Bundles 11 and 12 for Rs. 6,584 Crore

NHAI Awards TOT Bundles 11 and 12 for Rs. 6,584 Crore

New Delhi: NHAI has awarded two Toll, Operate and Transfer (TOT) bundles 11 and 12 of a combined length of 400 km for Rs. 6,584 crore. The two bundles (11 & 12) consist of Allahabad Bypass on NH19 in Uttar Pradesh and Lalitpur – Sagar -Lakhnadon section in the state of Uttar Pradesh and Madhya Pradesh respectively.

The first round of bids for the two bundles was called -off and the bids were re-invited.  In the 2nd round, NHAI has received bids for Rs. 553 crore higher than the bids received in the first round. The financial bids were opened on Friday, 27th October 2023 and with the approval of the concerned authorities, Letter of Award has been issued to the successful bidder next day of opening of financial bids.

Read Also : Mr Manoj Jain takes charge as Chairman and Managing Director of BEL

The TOT bundle 11 for the 84 km long Allahabad Bypass on NH19 in Uttar Pradesh has been awarded to Cube Highways and Infrastructure Ltd. for Rs. 2,156 crore.  TOT bundle 12 for the 316 km long Lalitpur – Sagar -Lakhnadon section that passes through the states of Uttar Pradesh and Madhya Pradesh has been awarded to IRB infrastructure Trust for an amount of Rs. 4,428 crore.

Commenting on the successful award of the TOT Bundles, NHAI Chairman Shri Santosh Kumar Yadav said “The Government has been very supportive and encouraging to achieve the national monetization targets. I am pleased that we have raised Rs. 6,584 crore from these two bundles, which will greatly contribute towards the development of a world class National Highway Network in the country.” 

Read Also : RBI invites application for recognition of SRO for NBFCs

The contract period of TOT 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.  

TOT model has been developed to encourage private participation in Highway sector. NHAI from time to time, has awarded contracts for tolling, operation and maintenance of various National Highway stretches on Toll Operate Transfer (TOT) basis. The TOT Bundle-I consisting of nine projects, totaling 681 km of National Highways in States of Andhra Pradesh and Gujarat was awarded in 2018.  Till now, NHAI has monetized 1614 km of projects for Rs. 26,366/- crore (excluding ToT bundle 11 & 12) through ToT and 636 km of projects for Rs. 10,200/- crore through InVIT.

Read Also : RBI cancels the license of The City Co-operative Bank Ltd Mumbai, Maharashtra