Eligibility criteria relaxations brought in earlier by the government for building highways through engineering procurement and construction (EPC) and hybrid annuity model (HAM) routes have started paying off. Apart from enhancing more competition among bidders to grab projects, it has ensured less outgo for building stretches for the government, rating agency Icra has found.
Earlier this year, the ministry of road transport and highways revised model concession agreements for both EPC and HAM, paving the way for those building stadium, hospitals and hotels to also get into the highway sector. The government also relaxed their financial criteria or eligibility.
