NHAI proposes changes in BOT model to lure private investors

The national highways authority of India (NHAI) on Wednesday proposed changes in regulatory guidelines for allocating road projects under the build-operate-transfer (BOT) model to revive private sector investment. Towards this, NHAI has invited comments from road developers, lenders, bankers, industry bodies and other stakeholders on the revised draft guidelines.

“NHAI is in the process of reviving the BOT (Toll) mode and amendments proposed in Model Concession Agreement (MCA) are in sync with this objective,” the highway authority said on Wednesday.

“The major modifications proposed in the MCA are related to capping of liabilities of either party throughout the subsistence of the agreement, tightening of conditions precedent prior to declaration of appointed date, and amendment in dispute resolution mechanism,” NHAI said.