The National Highways Authority of India (NHAI) plans to float bidding process to raise funding from 10 out 75 public funded national highways. The move has come after the Cabinet Committee’s decision, announced on August 3, of authorising NHAI to monetise the public-funded highways.
According to the officials, many investors including Canadian Pension Fund, Abu Dhabi Investment Fund and those from US, Europe and Singapore have shown great interest to acquire. The foreign investors often have long-term investment appetite which is a key region to expect their active participation in this bidding.
The bidding will soon be scheduled in April inviting tenders from investors to monetise at least 10 selected projects on toll operate transfer (TOT). The expected fund to be raised is in the range of Rs 80,000 to Rs 1 lakh crore.
The government is planning to use the funds to develop, operate and maintain highways in India.
Source: ET Realty