Question : Debt of NHAI

(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?

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-Operate-Transfer (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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