The Ministry of Road Transport and Highways (MoRTH) plans to raise ₹ 35,000 crores through various modes of asset monetisation in this financial year, against ₹ 32,855-crore target in the last fiscal.
Currently, MoRTH monetises its assets under three different modes viz toll-operate-transfer (TOT) model, Infrastructure Investment Trust (InvIT) and project-based financing to provide all categories of investors an opportunity to invest in assets about highways and associated infrastructure.
Elaborating further, the official says that while ₹ 15,000 crores is planned to be raised in 2023-24 via project-based financing of high-speed corridors by securitising the future toll revenues without any guidance from the authority, ₹ 10,000 is planned to be raised via InvIT. He also said that MoRTH plans to raise ₹ 10,000 crores in 2023-24 via ToT.
According to the official, in the last four years, MoRTH has already raised ₹ 67,997 crores through various modes of asset monetisation till February 28, 2023. He says ₹ 26,366 crores has been raised through monetisation of 1,614 km via ToT. Out of this, ₹ 3,144 crores has been raised in FY 2022-23 till February 2023, while bids have been invited for two more ToT bundles viz bundle 11 and 12 for a total of ₹ 7,000 crores. These are likely to be awarded in July 2023, the official added.
He also adds that ₹ 10,200 crores have been raised to date through InvIT listings of NHAI with a length of 635 km in phase I and II. Of this, ₹ 2,850 crores have been raised in FY 2022-23 till February 28, 2023, while InvIT phase III is planned to be awarded in April 2023 for a total of ₹ 10,000 crores. The official says ₹ 31,321 crores has been realised via project-based financing of the Delhi-Mumbai Expressway. Of this, ₹ 7,584 crores have been raised in FY 2022-23 till February 2023.