The National Highways Authority of India (NHAI) plans to raise Rs 15,000 crore through Investment Trusts (InvITs) in the fiscal year 2023-24, according to NHAI Chairman Santosh Kumar Yadav. The NHAI aims to finalise two rounds of InvITs by December this year, monetizing its road projects as part of the National Monetization Plan.
The initial portfolio includes five operating toll roads spanning 390 kilometers across Gujarat, Karnataka, Rajasthan, and Telangana. Under the InvIT model, investors contribute funds, and income generated from the assets, such as toll roads, is distributed as dividends. The NHAI was granted approval in December 2019 to set up an InvIT and monetize national highway projects with toll collection track records of at least one year. The Ministry of Road Transport and Highways plans to raise a total of Rs 45,000 crore through toll-operate-transfer contracts and InvITs, with Rs 30,000 crore targeted through TOT and the remaining Rs 15,000 crore through InvITs.