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Thursday, July 25, 2024

NHAI Aims to Surpass Rs 10,000 Crore Target in Highway Project Auctions for 2023-24

NHAI is poised to exceed its target of raising Rs 10,000 crore through the auctioning of completed highway projects in the fiscal year 2023-24. To date, NHAI has successfully bid out four bundles of projects, generating around Rs 16,000 crore as part of its monetization initiative.

Recently, financial bids were opened for two bundles of highway projects under the toll operate transfer (TOT) model for monetization. Cube Highways emerged with the highest bid price of Rs 7,707 crore for one bundle, surpassing the authority’s estimate by 15%. In the second bundle, IRB Infrastructure quoted the maximum bid amount of Rs 1,683 crore, approximately 1% higher than the estimated price.

“In October, two additional bundles of completed projects were auctioned under TOT for Rs 6,544 crore. In the latest round, we received bids from six players for one bundle of projects and five bids for the other one. This indicates a strong interest among bidders to acquire more completed projects for toll collection and operation during the contract period,” stated a senior NHAI official.

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