Road projects in India, particularly those under the Hybrid Annuity Model (HAM) are now facing obstacles in execution and funding, revealed a new report by CareEdge Ratings.
The report released on Thursday, highlighted the current state of the Indian road sector along with the performance of road projects under HAM, the financing of major road developers, and lastly the outlook for FY24.
HAM was launched by Union Minister of Road Transport & Highways Nitin Gadkari in 2016. The report analysed 235 HAM projects awarded between FY16 and FY22, totaling 10,000 km with an aggregate bid project cost (BPC) of Rs 2.74 trillion and debt of Rs 75,000 crore.
