Australia-based capital fund manager Macquarie and joint venture partner Ashoka Buildcon secured nine operational highway projects from the National Highways Authority of India (NHAI) on a toll-operate-transfer (TOT) basis.
The nine highways are in Andhra Pradesh and Gujarat and stretch across about 680 kilometres. This is the first time that the government has auctioned completed projects under the TOT model to monetize assets.
“The TOT model is a great initiative undertaken by the central government,” said Anjan Dasgupta, senior partner and head of the finance and projects practice at HSA Advocates.
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