The National Highways Authority of India (NHAI) has extended the date to invite bids under second round of toll-operate-transfer (TOT) programme by a month till December 5 at the request of investors, an official told Moneycontrol.
“This is a generic extension by a month at the behest of investors… They said they were yet to complete their due diligence before they could place bids,” the official said. NHAI had given a time period of three months, ending November 5, to place bids for 586.55 kilometer of highway stretches. This is the second phase of highway monetisation programme by the Authority.
TOT is a mechanism adopted by NHAI where the authority auctions operational assets (highways). The highest bidder deposits the money (bid amount) upfront with NHAI which it uses as capital to be invested in construction of new highways.
Against the money, the bidder acquires the right to operate and maintain the highways via toll collection for 30 years. Read More