Foreign funds allowed to bid for Toll-Operate-Transfer projects

The Centre has approved the monetisation of public funded, operational National Highway projects that are generating toll revenue for at least two years after start of operations through the Toll-Operate-Transfer Model. ToT model projects will be awarded through international competitive bidding in which foreign funds can also participate, subject to the bidder satisfying the eligibility criteria. As of now, 75 operational NH projects have been identified for monetisation under the ToT Model. The aggregate length of these projects is around 4,500 km and annual toll collection is around `2,700 crore. The proceeds will go to the Consolidated Fund of India, and are to be ring-fenced for utilisation by the National Highways Authority of India.