The Ministry of Road Transport and Highways (MoRTH) plans to raise INR 35,000 crore through various modes of asset monetisation in this financial year, against INR 32,855-crore target in the last fiscal, a senior government official said on Sunday. Currently, MoRTH monetises its assets under three different modes viz toll-operate-transfer (TOT) model, Infrastructure Investment Trust (InvIT) and project-based financing, in order to provide all categories of investors an opportunity to invest in assets pertaining to highways and associated infrastructure.
Infrastructure Investment Trust (InvIT) is an instrument on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time.
Elaborating further, the official told PTI that while INR 15,000 crore 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, INR 10,000 is planned to be raised via InvIT.
He also said that MoRTH is planning to raise INR 10,000 crore in 2023-24 via ToT.
According to the official, in the last four years, MoRTH has already raised INR 67,997 crore through various modes of asset monetisation till February 28, 2023.
He said INR 26,366 crore has been raised through monetisation of 1,614 km till date via ToT, out of this INR 3,144 crore 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 INR 7,000 crore.
These are likely to be awarded in July 2023, the official added.
He also said that INR 10,200 crore has been raised till date through InvIT listings of NHAI with length of 635 km in phase I and II.
Out of this, INR 2,850 crore has 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 INR 10,000 crore.
The official said INR 31,321 crore realised via project-based financing of Delhi-Mumbai Expressway till date, out of this, INR 7,584 crore has been raised in FY 2022-23 till February 2023.
