New Delhi: NHAI on Monday said it has accepted Raajmarg Infra Investment Trust’s offer of Rs 9,500 crore for the asset monetisation of five highway sections of 260 kilometres.
The monetised assets span over four states, NHAI said in a statement.
"NHAI has accepted the offer of the Raajmarg Infra Investment Trust (RIIT) amounting to Rs 9,500 crores towards Asset Monetization of five sections spanning over 260 km across four states," the statement said.
The assets are 80.52 km long Gorhar–Barwa Adda section (Jharkhand), 69.4 km long Chilakaluripet–Vijayawada section (Andhra Pradesh), 32.6 km long Chennai Bypass, 33 km long Chennai–Tada section (Tamil Nadu) and 44.6 km long Neelmangla–Tumkur section in Karnataka, NHAI said in a statement.
NHAI Chairman Santosh Kumar Yadav said, "Through this Public InvIT, retail investors will not only gain the opportunity to earn stable and attractive returns from operational National Highway assets but will also develop a sense of ownership and pride in contributing to the growth of national infrastructure."
The monetisation through public InvIT is aligned with the Government of India's National Monetisation Pipeline objectives aimed at unlocking value from operational infrastructure assets and enhancing private sector participation in infrastructure management, NHAI said.
Over the next 3 to 5 years, NHAI plans to provide further assets of about 1,500 km to RIIT.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)