The Competition Commission of India (CCI) has approved NHIT Southern Projects Private Limited’s acquisition of concession rights over 11 road projects from the National Highways Authority of India (NHAI) through the automatic Green Channel route. The deal, structured under the Toll-Operate-Transfer (TOT) model, grants NHIT Southern Projects operational control for a concession period of 20 years.

The transaction involves NHIT Southern Projects, a wholly owned subsidiary of National Highway Infrastructure Trust (NHIT), securing long-term rights to key road assets, including stretches in Muzaffarnagar-Haridwar, Bareilly-Sitapur, and Raipur-Simga, among others. NHIT is an Infrastructure Investment Trust (InvIT) backed by NHAI and regulated by the Securities and Exchange Board of India (SEBI).

Since the acquired assets are government-held road projects without independent business activities, and NHIT Southern Projects functions solely as a special purpose vehicle (SPV) for toll road management, there are no competitive overlaps. Consequently, the deal qualified for clearance under the Green Channel route, a mechanism that enables swift approval for transactions with no adverse impact on competition.

This approval marks another step in India’s infrastructure monetization drive, allowing NHAI to unlock capital for new highway projects while ensuring efficient private sector management of existing assets. The move is expected to enhance road maintenance and toll collection efficiency, benefiting both investors and commuters.

With this acquisition, NHIT Southern Projects strengthens its portfolio of managed toll roads, reinforcing the government’s strategy of leveraging public-private partnerships for infrastructure expansion, economy watchers said.

The 11 road projects involved in the deal are Muzaffarnagar – Haridwar; Bareilly – Sitapur; Gundugolanu – Devarapalli – Kovvuru; Narsannapeta – Ranasthalam; Ranasthalam – Hanumanthavaka; Anandapuram – Pendurthi – Anakapalle; Chittoor – Mallavaram; AP/TN Border – Nalagampalli; AP/Karnataka Border; Raipur – Simga; Simga – Bilaspur; Gandhidham (Kandla) – Mundra Port (collectively, “Target Assets”).

Published on March 19, 2025