Auction of eight highways to fetch Rs 54 billion

Nearly Rs 54 billion will be generated through the auction off the second tranche of eight completed national highway projects. The Toll Operate Transfer (TOT) will be responsible for the maintenance and will have the right to collect the toll on these stretches for 30 years. The NHAI has planned roadshows in Canada and the US to attract bidders. Under the TOT model, the auction is an innovative mode for raising funds. Instead of completely depending on the government expenditure, these raised funds will be used to undertake construction or expansion of national highway projects.