Project award activity
The National Highways Authority of India (NHAI) awarded over 2,500 km per year on average during the 10-year period from 2004-05 to 2013-14. This has nearly doubled to 4,700 km per year since 2014-15.
The year 2017-18 witnessed the highest award activity, crossing 7,300 km. There was a lull thereafter, and the momentum picked up again in 2021-22.
Shift from BOT to EPC and HAM mode
The engineering, procurement and construction (EPC) model and the hybrid annuity model (HAM) have dominated the award activity under the Bharatmala Pariyojana and the National Highways Development Project.
Meanwhile, due to the inherent risks associated with the build-operate-transfer model (BOT), its share has declined sharply, from 100 per cent during 2008-12 to a mere 1 per cent at present.
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