NHAI receives Rs 5,011 crore in upfront payment for third tranche of TOT Bundle

New Delhi: The National Highways Authority of India has received upfront payment of Rs 5,011 crore from Cube Mobility Investment Ltd (Cube Highways) which won its third tranche of highway projects under toll-operate-transfer (TOT) mode, the government said on Monday.

Cube Highways had emerged as the highest bidder for TOT bundle three comprising nine toll plazas in Uttar Pradesh, Jharkhand, Bihar and Tamil Nadu.

"The NHAI has awarded TOT 3 bundle (566 Km in length) consisting of nine toll plazas in the state of UP, Jharkhand, Bihar and Tamil Nadu under its ambitious Toll-Operate-Transfer (ToT) model to M/s. Cube Mobility Investment Pte. Ltd. (Cube Highways) and has received upfront consideration of Rs 5,011 crore today," Ministry of Road Transport and Highways said in a statement.