Chief minister Uddhav Thackeray has directed the administration to change the hybrid annuity model for road construction in the state adapted by the previous government.
The administration has been directed to tap funding from international financial institutes instead of paying higher interest rates on funding raised by private companies or contractors.
The previous Fadnavis government had introduced the hybrid annuity model for the construction of state highways and major district roads, wherein 40% of the construction cost would be borne by private entities or contractors while the state government would pay the rest 60%.
