Rating agency ICRA on Thursday said the targeted monetization of road assets by state-owned NHAI could earn the government up to ₹ 60,000 crore in the current fiscal year.
In April 2024, the National Highways Authority of India (NHAI) released an indicative list of 33 road assets it plans to monetize in FY2025, combining toll transfer (TOT) and sale to NHAI’s Infrastructure Investment Trust ( Invite ).
These assets are spread across 12 states, covering a total area of nearly 2,750 km, with an annual toll collection of ₹ 4,931 crore.
“ICRA estimates that the monetary potential from the sale of 33 road assets through TOT/InvIT mode will be between ₹53,000 crore and ₹60,000 crore,” it said.
NHAI intends to segment the 33 identified assets into immense (over ₹ 6,000 crore), medium (around ₹ 3,000 crore to ₹ 4,000 crore) and smaller packages (₹ 1,000 to ₹ 3,000 crore) for different types of investors.
Under the government’s National Monetization Pipeline (NMP), the monetization of the road sector was expected to be ₹1.6 lakh crore viz. 27% of total monetization between 2022 and 2025.
“With the identified 33 assets generating an estimated ₹ 53,000 crore – ₹ 60,000 crore in FY2025, the NMP target achievement could be between 65% and 71%,” ICRA said.
