Under the toll-operate-transfer (TOT) model, the National Highways Authority of India (NHAI) will receive an upfront payment of Rs 4,200 crore from the revenues of two operational highway sections totaling 200 km.

The highest bidder of the ninth TOT bundle, National Investment and Infrastructure Trust (NIIF), has offered to pay Rs 3,011 crore for a 72km stretch of NH-19 in Uttar Pradesh. For the ninth bundle, which consists of a 125 km stretch on NH-36 in Madhya Pradesh, Sekura Roads has made a bid of Rs 1,711 crore. The financial bids on the two TOT bundles were made public on Monday.

NIIF is a government-backed cooperative investment platform for foreign and Indian investors.