Adani Group may now look at projects under toll-operate-transfer model

Under the TOT model, the NHAI allows companies, including pension funds and private equity firms, to lease certain national highways by paying an upfront fee

Having entered the road construction business with its first hybrid annuity model project, the Adani Group may now look at the toll-operate-transfer (TOT) model, according to a spokesperson for the group.

Under the TOT model, the National Highways Authority of India (NHAI) allows companies, including pension funds and private equity firms, to lease certain national highways  by paying an upfront fee. The lessee gets the right to collect the toll, operate and maintain the asset for a fixed period. Once the period ends, the lessee needs to transfer the asset ownership back to NHAI.

Last week, Adani Enterprises announced its