Business
The reserved price of the bid is Rs 6,258 crore
Updated : Feb 23, 2018, 05:30 AM IST
 "NHAI")
Maiden bid for National Highways Authority of India's (NHAI) assets to be monetised under the toll-operate-transfer (TOT) model has received four quotes from Macquarie, Brookfield, Roads-NIIF (National Infrastructure Investment Fund) and IRB Infrastructure Developers.
Another international giant, Italian operator Atlantia, has also participated in the bid auction by entering into a joint venture with Virendra Mhaiskar-led IRB.
A source confirmed with DNA Money about Mumbai-based IRB Infrastructure Developers getting into an agreement with Europe's largest toll operator for the initial TOT bid. However, further details of the joint venture were not divulged.
"Four bids (have been) received for the first TOT bundle... We hope to select the most competitive bidder within next 10-12 days," NHAI's member (finance) Rohit Kumar Singh told PTI.
The NHAI is planning to auction toll collection for about 1,700 kilometre of highways under its TOT model, aimed at monetising public-funded roads. The reserved price of the bid is Rs 6,258 crore.
"The technical bids will be opened tomorrow and after technical qualification assessment, financial bids will be opened in a week," said Singh told PTI.
In a statement, Crisil Ratings mentioned that it estimates NHAI to raise Rs 60,000 crore over the next two to three years for the 75 road stretches already identified to be bid under the TOT mode.
The Cabinet in August 2017 had approved a proposal to monetise public-funded national highway projects.
Road transport and highways minister Nitin Gadkari had said at that time that the corpus generated from proceeds could be utilised by the government to meet its fund requirements regarding future development, besides for operation and maintenance of highways.
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