Home Transport Infrastructure News Road & Highway News GIP, Brookfield, Cube likely to bid for second TOT bundle of highways

    GIP, Brookfield, Cube likely to bid for second TOT bundle of highways


    According to sources, the companies that were present at pre-bid meetings held by the National Highways Authority of India (NHAI) in October are PSP Investments-owned ROADIS, Adani Transport, Tata Realty and Infrastructure, and IRB Infrastructure Developers. GIP, which acquired IDFC Alternatives’ infrastructure management business earlier this year, is likely to bid through its subsidiary, Highway Concessions One, sources said. The companies are evaluating the feasibility and doing a due diligence of the road assets that are a part of this TOT package, they added.

    In August, NHAI had invited bids for a tranche of eight operational road assets measuring 586.55 km across Rajasthan, Gujarat, Bihar and West Bengal.

    NHAI has set the floor price for this bundle of projects at Rs 5,362 crore in exchange for a concession, or toll collection period of 30 years.

    The last date for submitting the bids was set for November 5, but this has now been extended by a month to December 5, at the request of some of the companies evaluating the assets.

    Under the TOT model, the winning bidder pays an upfront amount to the NHAI for the 30-year concession period and also undertakes to operate and maintain the roads.

    In February this year, NHAI successfully bid out the first TOT bundle of road projects for `9,681.5 crore to Macquarie Group in partnership with Ashoka Buildcon, one and a half times higher than the floor price of `6,258 crore.

    The ministry of roads transport and highways (MoRTH) has identified 105 operational highways for auction under the TOT model.

    Union minister Nitin Gadkari said in February that monetisation of these projects can easily fetch the government at least Rs 1.25 lakh crore.



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