Nitin Gadkari to attend Road Show on TOT Bundle-II on Nov 15

The objective of the Road Show is to invite prospective investors to be a part of the TOT projects. NHAI has done successful Road Shows in New Delhi, New York and Toronto in August and September this year.

Shri Nitin Gadkari, Union Minister for Road Transport & Highways, Shipping, Water Resources, River Development & Ganga Rejuvenation will attend a Road Show on the second bundle of Toll-Operate-Transfer (TOT) in Mumbai on the 15th of this month. The event will be organized by National Highways Development Authority (NHAI) at 10.30 AM in Hotel Hyatt Regency, Sahar Airport Road, Mumbai. The objective of the Road Show is to invite prospective investors to be a part of the TOT projects. NHAI has done successful Road Shows in New Delhi, New York and Toronto in August and September this year.

TOT is a model for monetizing operational National Highways 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 % divestment is allowed till two years of the concession period. Up to 10 % 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 first TOT bundle of 9 projects, totalling approximately 681 KM of roads in two states of Andhra Pradesh and Gujarat, was awarded in 2018. Huge interest was 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. National Highways Authority of India did a financial closure of this project, with the India chief of Macquarie handing over a cheque for Rs9,681.5 crore to Shri Nitin Gadkari on 29th August 2018 in New Delhi

The second bundle of over 586 km is now offered spread over four States – Rajasthan, Gujarat, West Bengal and Bihar. The offer has 12 toll plazas across four highways.

(With Inputs from PIB)