New Delhi, Nov 21: In an attempt to boost the infra sector government has decided to introduce foreign funds for operating toll booths on national highways.
Speaking in the Rajya sabha Minister of State for Road Transport and Highways Munsukh Mandaviya, “Projects under ToT model shall be awarded through international competitive bidding in which foreign funds can also participate, subject to the bidder satisfying the eligibility criteria required,”.
He further added that, those NH projects that generate toll revenue for at least two years after the start of operations under the “Toll Operate Transfer” (ToT) model will be eligible.
Informing the house about the future plans of ministry Mandaviya said that government has identified 75 operational National Highway projects for monetisation under the ToT model. “The aggregate length of these projects is around 4,500 km and their annual toll collection is around Rs 2,700 crore,” said minister said.
Earlier in august government approved the monetisation of public funded, operational national highway (NH) projects to generate revenues.