The National Highways Authority of India awarded toll, operate and transfer (TOT) bundles 13 and 14 of a combined length of 273 km for Rs 9,384 crores, taking the total TOT bundles awarded in FY 2023-24 to Rs 15,968 crore. This is higher than the monetization target of Rs 10,000 crores for the current fiscal, the ministry of road transport and highways said on Monday.
The TOT bundle 13, which includes Kota Bypass and Stay Bridge on NH-76 in Rajasthan as well as the Gwalior-Jhansi section of NH-75 in the states of Madhya Pradesh and Uttar Pradesh, has been awarded to IRB Infrastructure Trust for Rs 1,683 crores.
TOT bundle 14, which consists of the Delhi-Meerut Expressway including the Delhi-Hapur section of NH-9 in the states of Delhi and Uttar Pradesh as well as Binjabahal to Teliebani section of NH-6 in the state of Odisha, has been awarded to Cube Highways and Infrastructure for Rs 7,701 crore, it said.
According to the statement issued by the road ministry, the concession period of TOT bundles is for 20 years in which concessionaires would be required to maintain and operate the stretch. In lieu of this, concessionaires will collect and retain user fees for these stretches in accordance with prescribed fee rates under NH Fee Rules, it added.
Earlier in October 2023, NHAI awarded TOT bundles 11 and 12 for a combined length of 400 km for Rs 6,584 crore. The two bundles (11 & 12) consisted of Allahabad Bypass on NH19 in Uttar Pradesh and Lalitpur – Sagar – Lakhnadon section in the state of Uttar Pradesh and Madhya Pradesh respectively.
The TOT model has been developed to encourage private participation in the highway sector. As per the statement, TOT has been instrumental in unlocking the value of the road network and has contributed towards the development of a world class national highway network in the country.