Lok Sabha Question No. 3125 (UNSTARRED), answered on 2020-03-12
Subject: Debt of NHAI
Ministry: ROAD TRANSPORT AND HIGHWAYS
Asked by: Sunil Baburao Mendhe, Achyutananda Samanta

## GOVERNMENT OF INDIA MINISTRY OF ROAD TRANSPORT AND HIGHWAYS

## LOK SABHA

UNSTARRED QUESTION NO. 3125

ANSWERED ON 12 TH  MARCH, 2020

## DEBT OF NHAI

3125. SHRI SUNIL BABURAO MENDHE: SHRI ACHYUTANANDA SAMANTA:

## Will the Minister of ROAD TRANSPORT AND HIGHWAYS सड़क परिवहन औि िाजमार्ग मंत्री

be pleased to state:

- (a)  the  total  debt  of  National  Highways  Authority  of  India (NHAI) during the period from 2015 to 2020, financial year-wise;
- (b) whether the Government has formulated or proposes to formulate any policy for the asset monetization of NHAI and if so, the details thereof;
- (c) the details of the outstanding debt of NHAI in terms of borrowings from the market;
- (d)  whether  the  Government  is  considering  alternate  methods  of  raising  money  such  as Infrastructure Investment Trusts or securitisation of toll receipts to service such outstanding debt; and
- (e) if so, the details thereof?

## ANSWER

THE MINISTER OF ROAD TRANSPORT AND HIGHWAYS

( SHRI NITIN JAIRAM GADKARI )

- (a) Details of total debt of National Highways Authority of India (NHAI) during the financial year 2015 to 2020 are as under:

| Financial Year (FY)     | Debt outstanding at the end of FY (amount in Rs Cr)   |
|-------------------------|-------------------------------------------------------|
| 2014-15                 | 24,188                                                |
| 2015-16                 | 44,567                                                |
| 2016-17                 | 77,742                                                |
| 2017-18                 | 1,21,931                                              |
| 2018-19                 | 1,78,867                                              |
| 2019-20 (till Feb 2020) | 2,28,252                                              |

(b) Yes Sir. NHAI has been authorized for monetization of its assets through Infrastructure Investment  Trust  (InvIT),  Securitization  of  user  fee  receipts  of  NHs  and  Toll-OperateTransfer (TOT).

(c) Total outstanding debt of NHAI as on 29.02.2020 is Rs. 2,28,252 crore.

(d)  to  (e)  NHAI  is  taking  action  for  monetisation  of  the  assets  through  Infrastructure Investment Trust (InvIT) and TOT. NHAI is incorporating a SPV in which some sections will  be  transferred.  Subsequently,  the  SPV  will  transfer  those  assets  to  the  InvIT  to  be formed by NHAI.

Further,  NHAI  has  been  authorized  to  monetise  Public  funded  National  Highway (NH) projects which are operational and are generating toll revenue for atleast one year after the Commercial Operation Date (COD) through TOT Model. The First bundle of TOT has been  monetised  for  Bid  Concession  Fee  of  Rs.  9681.50  Crore  with  30  years  concession period.  Bidding  process  of  TOT  Bundle  2  was  cancelled  due  to  non-satisfactory  response from the bidders.  Concession  agreement  for  third  bundle  of  TOT  has  also  been  signed  on 27.12.2019 for a bid concession fee of Rs. 5011 crore with 30 year concession period.  Bid for  fourth  bundle  of  TOT  has  also  been  invited  with  Initial  Estimated  Concession  Value (IECV) of Rs. 2165.70 crore with 20 year concession period.

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