Bids for TOT highway projects across 4 states to close on 19 Dec
04 December 2018
The centre has fixed 19 December as the last date of bidding for the second bundle of highway projects under the Toll-Operate-Transfer scheme. These include 12 toll plazas spread over four states, including Rajasthan, Gujarat, West Bengal and Bihar, across four highways.
The submission of bids for the second bundle of Toll-Operate-Transfer (TOT) will close on the 19 of this month, union minister for road transport and highways, shipping, water resources, river development and Ganga rejuvenation Nitin Gadkari had initiated the process at a road show in Mumbai on 15 November.
This bundle consists of over 586 km of National Highways, spread over four states – Rajasthan, Gujarat, West Bengal and Bihar:
- The 160.50 km Chittorgarh - Kota & Chittorgarh stretch of NH 27 Bypass (3 toll plazas);
- The 120.02 km Swaroopganj – Pindwara & Pindwara-Udaipur stretch of NH 27 (2 toll plazas);
Rajasthan / Gujarat:
- The 45-km Palanpur / Khemana-Abu Road stretch of NH 27 (1 toll plaza);
- The102.26-km Jetpur-Somnath stretch of NH 151 (2 toll plazas);
- The 36.30 Purnea-Dalkhola stretch of NH 31 (1 toll plaza);
- The 51.97 km Dalkhola-Islampur stretch of NH 31 (1 toll plaza);
- The 44-km Islampur - Sonapur – Ghoshpukur stretch of NH31 (1 toll plaza); and
- The 26.50-km Salsalabari - West Bengal Assam Border Section stretch on NH 31 (1 toll plaza).
TOT is a model for monetising operational National Highways projects. The investor makes a lump sum payment in return for long term toll collection rights backed by a sound tolling system. The concession period is 30 years. Up to 49 per cent divestment is allowed till two years of the concession period. Up to 10 per cent change in ownership is allowed after two years. The investor is de-risked from undertaking any construction. If required, NHAI will conduct capacity augmentation at its own cost.
The first TOT bundle of 9 projects, totalling approximately 681 km of roads in two states of Andhra Pradesh and Gujarat, was awarded in 2018. Huge interest was shown by foreign investors.
TOT Bundle-I was awarded to Macquarie for Rs9,681 crore, which was 1.5 times the authority’s estimate. National Highways Authority of India did a financial closure of this project with the India chief of Macquarie handing over a cheque for Rs9,681.5 crore to Nitin Gadkari on 29 August this year in New Delhi.