EAAA Alternatives, the alternative investment management arm of the Edelweiss Group, has secured contracts worth ₹2,259 crore from the National Highways Authority of India (NHAI) to operate two toll highway stretches in Tamil Nadu under the Toll-Operate-Transfer (TOT) Bundle 19 programme. The acquisition has been made through Epic Concessions 2 Pvt. Ltd., a portfolio company under EAAA Alternatives’ Infrastructure Yield Strategy.
The concession agreements grant the company the right to operate, maintain and collect tolls on the Thanjavur–Trichy and Madurai–Tuticorin highway stretches for a period of 20 years. Together, the two operational road assets span approximately 170 km and form part of NHAI’s highway asset monetisation programme aimed at generating capital for new infrastructure development.
With the addition of these assets, EAAA Alternatives’ infrastructure platform now comprises 26 operational roads covering more than 7,700 lane kilometres across 17 states, including projects for which binding agreements have already been executed. The acquisition further strengthens the company’s presence in India’s operational road infrastructure sector and expands its geographically diversified portfolio.
Commenting on the development, Amit Agarwal, Chief Executive Officer of EAAA Alternatives, said the company’s participation in TOT Bundle 19 reflects its long-term commitment to investing in high-quality infrastructure assets. He noted that India’s infrastructure sector continues to offer significant opportunities, supported by strong policy initiatives, economic growth and increasing demand for efficient transport networks.
The award also marks the first highway monetisation transaction by NHAI in the current financial year. Under the Toll-Operate-Transfer model, private investors make an upfront payment to NHAI in return for the right to operate, maintain and collect toll revenues from completed highway assets for a fixed concession period. The monetisation programme enables NHAI to recycle capital and finance the development of new national highway projects across the country.
