The National Highways Authority of India (NHAI) has decided to extend the last date for submission of bids to 11 March for its fourth package of road assets under toll-operate-transfer (TOT) model. The original deadline lapsed in January.
Last month, the NHAI had also cut the size of the package by half in value to attract more bidders.
Under the TOT model, long-term concessions for collecting toll revenues are auctioned to the highest bidder. The NHAI, the nodal agency of the ministry of road transport and highways, has so far successfully completed two rounds of such auctions in the two years and failed in one.
