MoRTH raises Rs 40,314 cr through asset monetisation in FY24

The Ministry of Road Transport and Highways (MoRTH) has raised Rs 40,314 crore through various modes of asset monetisation in 2023-24 against the target of Rs 28,968 crore, a senior government official said on Tuesday.

The ministry had raised Rs 15,968 crore through monetisation of 4 toll-operate-transfer (TOT) bundles, Rs 15,700 crore through Infrastructure Investment Trust (InvIT) and Rs 8,646 crore through securitisation, the official told PTI.

''NHAI's total asset monetisation programme has crossed Rs 1 lakh crore till date,'' he added.

The ministry had raised Rs 32,855 crore in 2022-23 through various modes of asset monetisation.

Currently, MoRTH monetises its assets under three different modes -- toll-operate-transfer (TOT) model, Infrastructure Investment Trust (InvIT) and project-based financing to provide all categories of investors an opportunity to invest in assets pertaining to highways and associated infrastructure.

Infrastructure Investment Trust (InvIT) is an instrument on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time.

The official also said that during the financial year 2023-24, NHAI achieved construction of 6,644 km of National Highways against the target of 6,544 km. ''This is the highest ever National Highway construction achieved in a financial year by NHAI,'' he added. At 6,644 km, construction increased in FY 2023-24 by around 20 per cent compared to 5,544 km in FY 2022-23 and around 53 per cent against 4,331 km in FY 2021-22. According to the official, the capital expenditure by NHAI in 2023-24 for the development of national highway infrastructure reached an all-time high of Rs 2,07,000 crore.

The capital Expenditure increased by around 20 per cent compared to Rs 1,73,000 crore in FY22-23 and Rs 1,72,000 crore in FY21-22.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)