The National Highways Authority of India (NHAI) has raised Rs 62.67 billion from the monetization of the Eastern Peripheral Expressway (EPE), half of the new ring road around the National Capital Region.

This marks the largest cleanup by a government agency of a single project.

With this transaction, NHAI has raised approximately Rs 110 billion through the monetization process so far in FY23, which is just over half of the Rs 200 billion target for the road sector in FY23.

The Indian Highway Concession Trust, a joint venture between Maple Highways, a private company incorporated in Singapore, and Canadian pension fund CDPQ, has been awarded the project under the toll, operate and transfer (TOT) model.