The National Highways Authority of India (NHAI) has raised Rs 6,267 crore from monetisation of the Eastern Peripheral Expressway (EPE), half of the new ring road around the National Capital Region.
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.
