Sydney-based infrastructure asset management company Macquarie Group has been awarded a Toll Operate Transfer (TOT) bid of nine national highways in India with a total length of 435 miles by bidding $1.4 billion in an auction.
Five highways run across Andhra Pradesh and the other four in Gujarat.
The auction, the first such by the government, is part of a government plan to monetize publicly funded, operational national highways through the ToT model.
Under this newly launched ToT model, the right to collect a user-fee or toll on selected national highway stretches built through public funding is auctioned and assigned to a concessionaire for a period of 30 years against an upfront lump-sum payment to the government.
