NHAI awards projects worth Rs 6,584 crore
National Highways Authority of India (NHAI) has awarded highway projects (bundles 11 and 12) with a combined length of 400 km under the toll-operate-transfer (TOT) model for Rs 6,584 crore. One of the 2 projects is TOT bundle-11 for the 84-km-long Allahabad Bypass on NH-19 in Uttar Pradesh has been awarded to Cube Highways and Infrastructure for Rs 2,156 crore.
The second project is for the 316 km long Lalitpur-Sagar-Lakhnadon section passing through Uttar Pradesh and Madhya Pradesh has been awarded to IRB Infrastructure Trust (Private InvIT) for Rs 4,428 crore. Contract for TOT is to be carried out for 20 years, in which Concessionaires would be required to operate and maintain (O&M) the stretch. The TOT model has been developed to encourage private participation in the highway sector.
NHAI has monetized 1,614 km of projects for Rs 26,366 crore through TOT and 636 km of projects for Rs 10,200 crore through InVIT.