nhai sets base price for package ii of tot auction n.
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  1. NHAI Sets Base Price for Package II of TOT Auction The National Highway Authority of India (NHAI), the subsidiary of the Ministry of Road Transport and Highways, which is responsible for management of a network of over 50,000 km of National Highways out of 1,15,000 km in India, has initiated a Toll- Operate-Transfer (TOT) Model. Under this model, NHAI will be auctioning its functional assets i.e Highway stretches to investors for the Highway Project. The TOT auction is to be carried out in 4 Packages or phases, Package I of which has already been auctioned off in March at Rs 9681.5 crores to a joint venture of Ashoka Buildcon, an India-based construction engineering company, and Macquarie, an Australian asset management company. The Package covered 9 highway stretches, a total of 648 km, with 4 stretches in Gujarat and 5 in Andhra Pradesh. NHAI is all set for the Package II auctioning of the TOT Model. Package II will be covering 7 National Highway stretches, consisting of 566 km in Tamil Nadu, Telangana, Rajasthan and Gujarat. The bid invitations are to begin in the 3rd week of July, with the base price having been set at $ 1 billion (Rs 6800 crores). There is also news of inclusion of new bidders, such as Cube Highways (a Singapore- based joint venture between I Squared Capital and International Finance Corp.) and the Canada Pension Plan InvestmentBoard (CPPIB). Package II is also speculated to get funding from infrastructure investment trusts (InvITs). A source related to the development stated that CPPIB might make the investment via India’s largest multinational construction engineering firm, Larsen and Toubro's InvIT IndInfravit, where CPPIB holds a 30% share. Package I also saw the participation of firms like Brookfield, IRB Infrastructure and the National Infrastructure and Investment Fund. The 2nd round of the TOT auctioning is estimated to garner bigger bids in comparison to the 1st bundle. #NHAI #TotAuction #PackageII #HighwayProject