Summary

India’s roads and highways sector has led the way in asset monetisation. The Ministry of Road Transport and Highways devised the toll-operate-transfer (TOT) model to sweat operational road assets constructed under the EPC and BOT (annuity) models.

TOT securitises future revenues and uses the proceeds to finance the construction of new road assets.

While TOT Bundle 1 was bid out at a whopping 1.5 times the Initial Estimated Concession Value (IECV) of the National Highways Authority of India, Bundle 2 bids came up short.

To discuss this development and the road ahead, CRISIL is organising a webinar titled 'Future of TOT', where experts from CRISIL Infrastructure Advisory will speak on:

• Bidding process and results for TOT Bundle 1 and 2
  
• Learnings from the process and reasons for the different results
  
• Way forward for TOT in India
  

This would be followed by a panel discussion with senior industry leaders and a Q&A session.