NHAI mulls re-bidding for stretches offered under the second round of TOT model

NHAI is considering rebidding of the eight road stretches offered under the second round of the toll-operate-transfer (TOT) model. This development comes on account of the fact that only three bids were received for the bundle on offer. Cube Highways and Infrastructure Private Limited had emerged as the highest bidder quoting a value of Rs 46.12 billion, which was below the initial estimated concession value of Rs 53.62 billion. Apart from Cube Highways and Infrastructure, Adani Infrastructure had bid at Rs 36.75 billion and IRB Infrastructure Developers Limited had bid at Rs 27.18 billion. The second bundle consists of eight stretches of national highways in the states of Rajasthan, Gujarat, Bihar and West Bengal. The total length of the stretches offered was 586.55 km, with a total of 12 toll plazas. The second bundle also involves an initial construction cost of Rs 9.29 billion. The total contract period is 30 years, which may increase or decrease by 5 or 10 years, based on traffic.