NHAI to get Rs 4200 crore from monetisation of two operational highways
News: NHAI will get Rs 4,200 crore as upfront payment from monetisation of two operational highway stretches with a combined length of 200 km under the TOT model. As per the sources, National Investment and Infrastructure Trust (NIIF) has offered to pay the highest Rs 3,011 crore for a 72-km stretch on NH-19 in Uttar Pradesh for the ninth TOT bundle. Sekura roads has offered Rs 1,711 crore for the tenth bundle, which consists of a 125-km stretch on NH-36 in Madhya Pradesh.
Views: The bids are largely in line with the Street expectations. However, the NHAI Board will meet soon to evaluate the highest bids for the two stretches. Nevertheless, the monetisation proceeds are likely to be used to lay newer highway stretches and retire debt that mounted to Rs 3.5 trillion at FY22-end.