NEW DELHI: The National Highways Authority of India has set up a wholly owned special purpose vehicle (SPV) for execution and operation of Delhi-Mumbai expressway project, a model which will be replicated big projects including 23 greenfield highways and economic corridors with a cumulative investment of around Rs 3.3 lakh crore by 2025.
These highway networks have combined length of about 7,800 km.
The SPV, DME Development Ltd, will raise debt on its balance sheet while NHAI will retain the operational control during construction and operation and maintenance. Toll will be collected by NHAI and SPV will get annuity payments without any construction and tolling risks. Delhi-Mumbai expressway, Ahmedabad-Dholera and Amritsar-Jamnagar are scheduled for completion by March 2023.
