The National Highways Authority of India (NHAI) has finalised a tentative list of 17 operational National Highway stretches proposed for monetisation during the financial year 2026-27, as part of its plan to unlock value from completed road assets and raise capital for further highway development.
The identified stretches have a combined length of 1,692.5 Km and are spread across 9 states – Haryana, Jharkhand, Karnataka, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Bihar and Maharashtra.
According to a statement by the Ministry of Road Transport and Highways on Thursday, 27 May, the assets are proposed to be monetised through the Toll-Operate-Transfer and Infrastructure Investment Trust routes.
The tentative list does not include assets proposed to be monetised through the Raajmarg Infra Investment Trust for FY 2026-27.
The monetisation plan is part of the government’s wider asset monetisation strategy, under which operational infrastructure assets are used to mobilise fresh capital for new development.
In the highway sector, this allows NHAI to recycle capital locked in completed and revenue-generating road projects and use the proceeds for further expansion and modernisation of the National Highway network.
The ministry said the identified highway assets represent economic and logistics corridors with established traffic potential and connectivity significance. Such stretches are generally considered suitable for monetisation because they are already operational and have an existing toll collection base.
Under the Toll-Operate-Transfer model, operational highway stretches are offered to private players for a fixed concession period.
The concessionaire operates and maintains the road and collects toll revenue during the period, while NHAI receives an upfront payment.
The Infrastructure Investment Trust model allows completed road assets to be placed under an investment vehicle that can attract long-term institutional investors.
These structures are used to bring private and institutional capital into infrastructure while keeping the underlying assets operational.
NHAI said the monetisation exercise will be carried out through transparent and structured mechanisms under the TOT and InvIT frameworks.
The ministry said these models have emerged as key tools for attracting long-term investment into National Highway infrastructure.
The move is also aimed at giving investors and bidders advance visibility on the assets that may come up for monetisation during FY 2026-27.
The tentative list of 17 projects has been hosted on the NHAI website, allowing potential participants to study the stretches and plan their investment decisions.
The proposed monetisation comes at a time when the highway sector continues to rely on asset recycling as one of the financing tools for network expansion.
For NHAI, monetising operational assets helps reduce dependence on budgetary support and borrowing, while creating room for fresh highway construction and upgradation.
The ministry said the initiative is expected to support the development of a modern, resilient and sustainable National Highway network, improve logistics efficiency and strengthen connectivity across key regions of the country.
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