MUMBAI: The National Highways Authority of India (NHAI) has decided to cancel the second auction of toll roads after the bids came in far below its expectations, a person aware of the development said.
Cube Highways, the highest bidder in the second round of toll-operate-transfer (TOT) auctions, had placed a bid of ₹4,612 crore for the lot, below NHAI’s estimated value of ₹5,362 crore.
“Despite several attempts of negotiation with bidders, NHAI couldn’t get higher value for the roads. So, at its board meeting on Friday, they decided to cancel the second lot,” the person cited above said on condition of anonymity. “I believe the NHAI plans to repackage this lot with others and bring it back at a later date.”
