In its bid to build world class road network across the state, the state government in Maharashtra has decided to build 10,000km of the state highways under the ambitious road rejuvenation project. In this connection, the chief minister's office (CMO) has sent out invites to global firms such as the Blackstone Group, Carlyle Group, KKR and Co Ltd, Brookfield Asset Management, Infrastructure Development Finance Company (IDFC) to negotiate the project under which road contracts worth Rs 30,000 crore will be awarded. The state's public works department is undertaking these works under the Centre's hybrid annuity model (Ham), which is a balance between a public-private partnership contract and an engineering procurement contract. In this model, the government puts in 40% of the funds while the concession raises the remaining 60%. This investment is recovered by the private firm over the next 15 years in installments from the government. The state government is planning to allocate nearly Rs12,000 crore as its share of the 40% payment over the next two years for these road projects, said official sources.
📅Published on:
07 October 2017
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