NHAI readies launch of first government-sponsored InvIT

The NHAI is expected to operationalise the country’s first government-sponsored infrastructure investment trust (InvIT) by March 2021. Reportedly, about six road assets worth Rs 50 billion have been given in-principle approval for transfer to the InvIT. NHAI, which received approval from the union cabinet to float the InvIT in December 2019, is in the process of legal vetting of the financing instrument. Assets to be transferred to the InvIT include the 32.6 km Kotha-Kata bypass to Kurnool (Telangana), the 75 km Palanpur-Abu Road in Gujarat, the 31 km Abu Road-Swaroopganj Road in Gujarat, the 160 km Chittorgarh-Kota and Chittorgarh bypass in Rajasthan, and the 77 km Maharashtra-Karnataka border to Belgaum. The 32.6 km Chennai bypass may also be transferred to the InvIT.