The National Highways Authority of India (NHAI) has extended the timeline for companies to bid for its third bundle of highway projects under the toll-operate-transfer (TOT) model.
The timeline has been extended till 30 September 2019 from 11 September 2019 earlier. NHAI aims to garner at least Rs 4,995 crore upfront from nine stretches, measuring 566.27 km on offer. NHAI had initiated requests for proposals (RfPs) on 13 June 2019.
The extension will help in completing proper due diligence, will stretch the indicative timelines proposed earlier. Under the previous timeline, NHAI was supposed to declare qualified bidders by 11 October 2019.
Financial bids were to be opened in the first week of October 2019. The letter of award (LoA) will be issued within 11 December 2019.