"NHAI Successfully Raises ₹6,584 Crore by Monetizing Two NH Bundles"

The National Highways Authority of India (NHAI) has recently announced the successful award of two Toll, Operate, and Transfer (TOT) bundles, collectively known as bundles 11 and 12, spanning a total length of 400 kilometers, and fetching a total value of ₹6,584 crore.

These two TOT bundles comprise the Allahabad Bypass on National Highway 19 in Uttar Pradesh and the Lalitpur-Sagar-Lakhnadon section in Uttar Pradesh and Madhya Pradesh. Cube Highways and Infrastructure and IRB Infrastructure Trust have been the recipients of these prestigious contracts.

It's worth noting that the initial round of bids for these bundles was canceled, and fresh bids were solicited. During the second round, NHAI received bids that exceeded the first-round bids by ₹553 crore, reflecting the robust interest in these highway projects.

The financial bids for these TOT bundles were officially opened by NHAI on October 27, 2023, and with the approval of the relevant authorities, the Letter of Award (LoA) was issued to the successful bidder on the following day.

NHAI Chairman, Shri Santosh Kumar Yadav, expressed his appreciation for the government's support and encouragement in achieving national monetization goals. He emphasized the significance of raising ₹6,584 crore through these two bundles, a substantial contribution to enhancing the country's national highway network.

Specifically, TOT bundle 11, which pertains to the 84-kilometer-long Allahabad Bypass on NH-19 in Uttar Pradesh, was awarded to Cube Highways and Infrastructure for ₹2,156 crore. On the other hand, TOT bundle 12, covering the 316-kilometer-long Lalitpur-Sagar-Lakhnadon section that traverses both Uttar Pradesh and Madhya Pradesh, was awarded to IRB Infrastructure Trust for ₹4,428 crore.

Under the terms of the TOT contracts, the concessionaires are obliged to maintain and operate these stretches for a period of 20 years. In return, they will collect and retain user fees for these highway sections in accordance with the prescribed fee rates outlined in the NH Fee Rules. These developments are integral to the ongoing efforts to bolster India's infrastructure and highway network.

HBL