Govt eyes $3 billion from 25 projects in nine states
New Delhi: After collecting $1.6 billion from nine highway projects, the government is eyeing about $3 billion by monetising 25 more National Highways stretches in three tranches beginning next month, a top official said.
The maiden tranche comprising nine projects under toll-operate-transfer (TOT) model was oversubscribed, fetching about $1.6 billion cash to National Highways Authority of India (NHAI) recently.
"Detailed project reports (DPRs) are being formulated for about 25 more highway projects. These will be auctioned in three tranches," an NHAI official said. To make the projects more lucrative, the government is assessing the asset condition through drone videos and network survey vehicles and will provide detailed database to the investors.
On a cumulative basis about 1,640 km of highway projects will be bid out under TOT beginning next month. Of these 1,640 km projects, NH stretches totalling about 1,000 km will be bid out in the second and third tranches in May while the remaining about 640 km is planned to be put under hammer in the fourth tranche likely in June or July, the official added. "We expect to garner close to $3 billion from these three tranches -- $1 billion each from the second and third tranche respectively while about 750 million from fourth one," the official said.
The projects are scattered in nine states and highway stretches in Odisha and West Bengal are being prepared to be put for auction in the second tranche, followed by stretches in Rajasthan, Gujarat, Tamil Nadu and Telangana in third phase. The fourth tranche projects will be from Uttar Pradesh, Bihar and Jharkhand.