Transport Ministry to raise Rs 35k in FY23
Exploring several modes of asset monetisation this fiscal; MoRTH to raise Rs15k cr via project-based financing of high-speed corridors
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New Delhi: The Ministry of Road Transport and Highways (MoRTH) plans to raise Rs35,000 crore through various modes of asset monetisation in this financial year, against Rs32,855-crore target in the last fiscal, a senior government official said on Sunday. Currently, MoRTH monetises its assets under three different modes viz toll-operate-transfer (TOT) model, Infrastructure Investment Trust (InvIT) and project-based financing, in order to provide all categories of investors an opportunity to invest in assets pertaining to highways and associated infrastructure.
Infrastructure Investment Trust (InvIT) is an instrument on the pattern of mutual funds, designed to pool money from investors and invest in assets that will provide cash flows over a period of time. Elaborating further, the official told that while Rs15,000 crore is planned to be raised in 2023-24 via project-based financing of high-speed corridors by securitising the future toll revenues without any guidance from the authority, Rs10,000 is planned to be raised via InvIT.
He also said that MoRTH is planning to raise Rs10,000 crore in 2023-24 via ToT. According to the official, in the last four years, MoRTH has already raised Rs67,997 crore through various modes of asset monetisation till February 28, 2023. He said Rs26,366 crore has been raised through monetisation of 1,614 km till date via ToT, out of this Rs3,144 crore has been raised in FY 2022-23 till February 2023, while bids have been invited for two more ToT bundles viz bundle 11 and 12 for a total of Rs7,000 crore.
