NHAI achieves financial closure for first bundle of TOT projects

The National Highways Authority of India (NHAI) has achieved financial closure for the first bundle of toll, operate and transfer (TOT) projects. An upfront payment of Rs 96.81 billion was made by the Macquarie Group to the Ministry of Road Transport and Highways (MoRTH) based on the concession agreement signed on April 26, 2018. As per the agreement, the right to collect toll on the nine selected national highway stretches spanning 680.64 km has been assigned to the Macquarie Group for a period of 30 years against an upfront payment to the government. Meanwhile, NHAI has also already invited bids for the second bundle of TOT projects spanning 586.55 km in Gujarat, Rajasthan, West Bengal and Bihar. The last date for submission of bids is November 5, 2018.