This will mark the largest such mop-up by the government agency from a single project.
With this transaction, NHAI has raised around Rs 11,000 crore through the monetising process so far in FY23, which is a little over half the Rs 20,000 crore target for the road sector during FY23.
The Indian Highway Concession Trust, a joint venture of Maple Highways, a private company incorporated in Singapore, and Canadian pension fund, CDPQ, has bagged the project under the toll, operate and transfer (TOT) model.
The 135 km expressway, developed as a bypass for Delhi, is the country’s first greenfield expressway built by the government.
NHAI has set a target to monetise nearly 1,750 km of NHs in FY23 to meet a part of its fund requirement, which may help reduce its debt burden.