IRB Infrastructure Developers, Epic Concessions, Adani Roads, and PATH (Prakash Asphalting & Toll Highways) have placed bids for the 124-km stretch of the four-lane Trichy-Tovrankurichi-Madurai section under the toll-operate-transfer (TOT) Bundle 15.

The National Highways Authority of India (NHAI), under the Ministry of Road Transport and Highways, will assess the technical bids first, followed by financial bid evaluations before finalizing the contract.

“The technical bids for TOT Bundle 15 were opened today. After assessment, we will review the financial bids in about a week or 10 days,” a senior official mentioned.

The contract is expected to be awarded by the first week of January, according to the official.

Under the TOT model, a private entity is granted the right to operate, maintain, and collect tolls on national highway assets for a period of 15-30 years, in exchange for a one-time concession fee paid to the government.

NHAI has identified 86 stretches, covering a total of approximately 4,912 km, for monetization.

Up until February, the Ministry of Road Transport and Highways had raised Rs 1 lakh crore through asset monetization, including Rs 42,334 crore via TOT, Rs 26,125 crore through infrastructure investment trusts, and Rs 42,000 crore via securitization.