New Delhi: Singapore-based Cube Highways has emerged as the winning bidder for the government\u2019s third round of road monetisation programme, quoting a price bid of Rs 5,011 crore. Financial bids for the third bundle of toll-operate-transfer(TOT) auctions were opened on Wednesday. TOT was introduced in 2016 to monetise publicly-funded highways. Under the model, investors make a one-time payment in return for long-term toll collection rights.<\/p>\n
The National Highways Authority of India (NHAI) had in June invited bids for the third bundle of TOT auctions, looking to raise a minimum of Rs 4,995 crore. Besides Cube Highways, National Investment and Infrastructure Fund (NIIF) quoted a value of Rs 4,230 crore and IRB Infrastructure quoted Rs 3,510 crore, a person familiar with the development told ET. A senior official at NHAI confirmed the development. \u201cCube Highways has emerged as the winning bidder, and has quoted a higher price than NHAI\u2019s initial estimated concession value (IECV),\u201d the official said. Cube Highways is a toll road operator backed by I Squared Capital and International Finance Corporation.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi: Singapore-based Cube Highways has emerged as the winning bidder for the government\u2019s third round of road monetisation programme, quoting a price bid of Rs 5,011 crore. Financial bids for the third bundle of toll-operate-transfer(TOT) auctions were opened on Wednesday. TOT was introduced in 2016 to monetise publicly-funded highways. Under the model, investors make a one-time payment in return for long-term toll collection rights. The National Highways Authority of India (NHAI) had in June invited bids for the third bundle of TOT auctions, looking to raise a minimum of Rs 4,995 crore. Besides Cube Highways, National Investment and Infrastructure […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,193,136],"tags":[],"class_list":["post-301970","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-roads-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/301970","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=301970"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/301970\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=301970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=301970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=301970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}