With the combined value of Rs 15,968 crore of TOTs awarded in 2023-24, the National Highways Authority of India has surpassed its monetisation target of Rs 10,000 crore, the ministry of road transport and highways said on Monday.
TOT model has been developed to encourage private participation in the highway sector. Till now, NHAI has monetized 1614 km of projects for Rs 26,366 crore (excluding ToT bundle 11 and 12) through ToT and 636 km of projects for Rs 10,200 crore through InVIT.Till now, NHAI has monetized 1614 km of projects for Rs 26,366 crore (excluding ToT bundle 11 and 12) through ToT and 636 km of projects for Rs 10,200 crore through InVIT, it said.
The projects have strong counter parties - NHAI for four projects and Ministry of Road Transport and Highways (MoRTH) and Madhya Pradesh Road Development Corporation (MPRDC) for one each, said a recent Crisil report. The toll road projects have a long tolling track record between 8 to 14 years, while the annuity projects have a track record of receiving 26 and 20 semi-annual annuities without any material deduction.