The National Highways Authority of India’s ongoing asset monetization drive is likely to fall victim to the Covid-19 crisis along with the Infrastructure Investment Trust (InvITs), as the former may see lukewarm response from investors and the latter could be delayed.
“Toll-Operate-Transfer (TOT) projects are expected to take a hit. Both bundle 4 and 5, and InvITs could be delayed,” Akshay Purkayastha – Director – CRISIL Risk & Infrastructure Solutions, said in a teleconference.
NHAI invited bids for the fourth TOT contract in October 2019 and expected to raise over Rs 4,000 crore by offering a total of 7 road stretches, with a cumulative length of 400 km. The project’s base price was, however, curtailed to Rs 2,165 crore and the concession period of the bundle was reduced to 20 years.
