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TOT: MONETIZATION OF PUBLIC FUNDED, OPERATIONAL NATIONAL HIGHWAY PROJECTS.

Government has approved the proposal to authorize NHAI to monetize public funded NH projects which are operational and are generating toll revenues for at least two years after the COD through the Toll Operate Transfer (ToT) Model subject to, approval of the Competent Authority in MoRTH/NHAI on a case to case basis.

            In TOT Model, the right of collection and appropriation of Fees for selected operational National Highway (NH) projects constructed through public funding shall be assigned for a pre-determined concession period to concessionaires (developers/investors) against upfront payment of a lump-sum amount to NHAI. Such assignment of rights shall be based on toll revenue potential of the identified NH projects. Operation & Maintenance (O&M) obligations of such projects shall be with the concessionaire till the completion of concession period. The concessionaires for such projects shall be appointed through a transparent and uniform procurement process within the ambit of a pre-defined and approved implementation framework.

 


Hybrid Annuity Model for implementation of Highway Projects.

Ministry of Road Transport & Highways has adopted Hybrid Annuity model for implementation of highway projects in order to encourage private sector participation through adequate incentives. The objective is to maximize the quantum of implemented highway projects within available financial resources of the Government. As per this model, 40% the Project Cost is to be provided by the Government as 'Construction Support' to the private developer during the construction period and the balance 60% as annuity payments over the concession period along with interest on outstanding amount to the concessionaire. There is separate provision for O&M payments by the Government to the concessionaire. The private party does not have to bear the traffic risk. All the payments have been inflation indexed by a Price Multiple Index which is a weighted average of WPI and CPI (IW) on 70:30 bases. This mitigates the inflation risk for the developer.

Standard Document
S. No Subject Category Date
1 Inclusions of provisions regarding accepting E-Bank Guarantee and Insurance Surety Bonds as ‘Bid Security’ and ‘Performance Security’ in standard documents of EPC, HAM and BOT (Toll) (1.41 Mb application-pdf)
 EPC 31/05/2023
2 Changes in Standard RFP for HAM and BOT (Toll) Projects (2.38 Mb application-pdf)
 HAM 31/03/2023
3 Changes in Model Concession Agreement of BOT (Toll) project permitting the change of ownership from 2 years to 1 year after Commercial Operation Date (COD) (349.55 Kb application-pdf)
 BOT 21/03/2023
4 Standard Request for Proposal (RFP) for National Highways and centrally sponsored road works proposed to be implemented on EPC Mode of Contract- Amendments to RFP regarding. (3.33 Mb application-pdf)
 EPC 31/05/2022
5 Modified Model Concession Agreement (MCA) for the development of MMLP under Bharatmala Pariyojana (12.00 Mb application-pdf)
 Bharatmala 27/05/2022
6 Changes in the model RFP and MCA of HAM project to allow Lowest quoted Bid Project Cost (BPC) as the basis for awarding HAM Project and O&M cost to be fixed as in EPC projects (420.30 Kb application-pdf)
 EPC 23/05/2022
7 Changes in the Model Concession Agreement of BOT(Toll) project permitting the change of ownership from existing 2 years to 1 year after Commercial Operation Date (COD) (445.70 Kb application-pdf)
 BOT 23/05/2022
8 Tribal Development Plan (TDP) for Rehabilitation and Upgradation to 2-lane with paved shoulders configuration of Bowdara to Vizianagaram section (Km 0+000 to Km 26+937) of NH-516E in the State of Andhra Pradesh under Green National Highways Corridor Project (GNHCP) with the loan assistance of World Bank on EPC mode (4.26 Mb application-pdf)
 EPC 05/04/2022
9 Changes in the Model Concession Agreement of TOT (3.96 Mb application-pdf)
 TOT 03/02/2022
10 OM regarding (i) Changes in standard RFP & MCA of EPC, BOT(Toll) and HAM project in order to ensure compliance of PPP-MII Order, 2017 and Rule 144 (xi) of GFR, 2017 & (ii) Change in the clause no. 2.2.2.1 of the standard RFP of EPC to include all awarded works for determination of available BID Capacity. (9.08 Mb application-pdf)
 EPC 16/12/2021

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