NHAI awards 150 projects worth Rs.1.22 lakh-cr

National Highway Authority of India awarded a record number of road contracts worth Rs 1.22 lakh crore in the just concluded fiscal, thereby helping almost a large number of players engaged in the road construction business to improve their order tally over the preceding fiscal. The renowned road building agency awarded 150 projects spanning 7,400 km, nearly twice the previous year in terms of length as well as the quantum of investment involved. Top notched seven companies got 40 percent or Rs 50,000 crore worth of the fresh contracts by value, according to data compiled by Bloomberg Quint. KNR Construction, Ashoka Buildcon and Dilip Buildcon doubled their orders over the year ago. Most of the orders were awarded on the hybrid annuity model (HAM). The model involved fixed payment in the first five years and variable payouts for the remainder depending on performance and assets created.