(ET)
The government is planning to offer smaller bundles of road projects under the toll-operate-transfer (TOT) model as part of its asset monetisation plan in a bid to attract smaller investors, minister of road transport and highways Nitin Gadkari said. Gadkari’s ministry is actively scouting for ways to encourage private participation in the sector.
“Now we have decided that we will tender smaller bundles of maybe one or two projects so that even small investors can participate,” Gadkari told ET on the sidelines of India-Singapore Symposium organised by CII. “We will sell the project (to private players), but maintenance will be our responsibility,” Gadkari added.
The national highways building authority last week invited bids for the third bundle of TOT auctions, looking to raise a minimum of Rs 4,995 crore. The highways ministry is tweaking the model after its second round of TOT auctions received tepid response from investors.
