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NHAI’s total asset monetization program crosses Rs 1 lakh crore, ET Infra

The National Highways Authority of India (NHAI) has raised the highest ever concession value of Rs 15,624.90 crore through ’InvIT Round-3’ which includes monetizing 10 stretches with an aggregate length of about 890 km.

This is spread across Assam, Karnataka, Madhya Pradesh, Uttar Pradesh and West Bengal. The monetized value is expected to be realized in March 2024, the ministry of road transport and highways said on Tuesday.

Earlier, two rounds of InvIT with aggregate length of about 635 km worth Rs 10,200 crore were monetized.

“With this, NHAI’s total asset monetization program has crossed Rs 1 lakh crore which includes Rs 42,334 crore through toll-operate-transfer (TOT), Rs 26,125 crore through InvIT and Rs 42,000 crore through securitization,” it added.

ET had reported on January 18 that NHAI will surpass Rs 1 lakh crore of asset monetisation in the current fiscal with the highest ever receipts in 2023-24.

The monetized sections in ’InvIT Round-3’ include Chichira-Kharagpur, Orai-Bara, Rewa-Katni-Jabalpur-Lakhnadon, Kachugaon to Rakhaldubi Bus Junction and Rakhaldubi Bus Junction to Kaljhar, Kaljhar to Patacharkuchi, Lakhnadon to Mahagaon, Mahagaon to Khawasa, Hubli to Haveri, Davangere to Haveri and Davangere to Chitradurga.

NHAI has adopted three modes for asset monetization which includes Infrastructure Investment Trust (InvITs), toll operate transfer (TOT), and project based securitization.

During FY 2024, NHAI has already awarded and executed Concession Agreements for four TOT Bundles, which include TOT Bundles 11, 12, 13 and 14 for a total value of Rs 15,968 crore, which is higher than its monetization target of Rs 10,000 crore for the current fiscal year.

The success rate in TOT mode during FY’24 was 100%. At present, TOT bundles 15 & 16 are in the bidding stage and are expected to be issued by the end of FY’24.

Further, NHAI has also monetized Delhi-Mumbai Expressway through project based securitization garnering Rs 4,600 crore in FY’24.

“Additionally, Rs 9,000 crore has been planned to be monetized through this mode in this fiscal year,” it said.

According to the ministry of road transport and highways, NHAI has been able to mobilize budgetary resources with its asset monetization program to meet its capital expenditure and debt servicing requirements.

“This is in line with the government’s vision under the National Monetization Plan as well as fulfillment of the government’s budgetary announcements,” it added.

  • Published On Feb 9, 2024 at 12:03 AM IST

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