NHAI receives Rs 50.11 billion from Cube Highways towards TOT Bundle III

NHAI has received an upfront consideration of Rs 50.11 billion from Cube Highways and Infrastructure, under the third bundle of the TOT model. The Singapore-based firm had delayed the payment to NHAI amidst the uncertainties posed by the Covid-19 outbreak. TOT Bundle III, with a cumulative road length of 566 km, consists of nine toll plazas in the states of Uttar Pradesh, Jharkhand, Bihar and Tamil Nadu. Cube Highways had deferred paying up for the bundle as traffic density had started dwindling from March this year, when a nationwide lockdown was imposed to curb the spread of the virus. However, the company has not been penalised for delay in payment as the government continues to grant relaxations in light of the pandemic.

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