Bidding norms for highways set for major overhaul
The government is working on a new financing model for highway development that will further reduce the risk for private developers and will, in a couple of days, unveil an overhauled concession model for building roads through the Built Operate Transfer (BOT) mode.
The complete restructuring of the Model Concession Agreement (MCA) after 15-16 years has taken nine months during which “each word, clause and sentence” has undergone review, Secretary in the Ministry of Road Transport and Highways V Umashankar said on Tuesday.
