The National Highway Authority of India (NHAI) on Thursday appointed Ernst&Young, CRISIL, Delloitte and Mazars as transaction advisers for the second and third phase of auctioning highway projects under the toll operate transfer (ToT) model.

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These four firms will advise NHAI on auctioning the next round of highway monetisation, it said.

Aimed at monetising publicly funded highways, NHAI had earlier decided to auction toll collection for road length totalling around 1,640 km in three phases.

The highway authority is looking at raise $3 billion by monetising 25 projects in the second phase.

NHAI had a runway success during its maiden auction. It received Rs 9,682 crore for nine highway projects against the reserve price of Rs 6,258 crore.

Highway projects in Odisha and West Bengal will be put up for auction during the second phase followed by Gujarat, Tamil Nadu and Telangana in the third round.

The Road and Transport Ministry had introduced the ToT model in India to encourage private participation in the highways sector.

Earlier, Road and Transport Minister Nitin Gadkari confirmed that the government will be auctioning 105 highway projects in phases to garner about Rs 1.5 trillion.

According to the latest Economic Survey India needs about $4.5 trillion in the next 25 years for infrastructure development. It also points out that India will be able to garner only about $3.9 trillion.

First Published:Apr 19, 2018 10:00 PM IST