Hyderabad Growth Corridor (HGCL) told that the financial bid will be opened on January 24 and the project will be granted on January 28
The Hyderabad Growth Corridor (HGCL), a division of the Hyderabad Metropolitan Development Authority (HMDA), has invited bids for toll rights for Nehru Outer Ring Road which connects popular destinations like Gachibowli, HITEC City and Nanakramguda among others.
Two Canadian pension funds, CPP Investments (CPPIB) and CDPQ, investors KKR and National Investment and Infrastructure Fund (NIIF), Cube Highways, Edelweiss-backed Sekura Roads, IRB Infrastructure Developers, and strategic partner Adani Road Transport are among the entities interested in acquiring the toll rights of Hyderabad's outer ring road, The Economic Times reported.
The deal might be worth between Rs 7,000 and 8,000 crore.
According the report there are up to 12 firms interested in the project and likely to submit bids by next month and the last date for submission bids is January 16.
"The final bid date is likely to be extended as it needs detailed due diligence," The Economic Times quoted one of the fund managers as saying.
As per the report, HGCL told that the financial bid will be opened on January 24 and the project will be granted on January 28.
Eagle Infra India has been collecting tolls since 2019 and sending them to HMDA, which received bids worth Rs 421 crore in last financial year. In order to maintain NORR through a public-private partnership on a toll, operate, and transfer (TOT) basis over a 30-year period, HGCL has reportedly issued the invitation for bids.
Popular destinations in Hyderabad like Gachibowli, HITEC City, Nanakramguda, Kondapur, Shamshabad, and Narsingi are connected by the outer ring road (ORR). The ORR has 19 access points and has been constructed as an eight-lane highway with access control.