Four infrastructure companies bid for Rs 700 crore Meerut-Bulandshahr highway project

NEW DELHI: Four major infrastructure companies have bid for Rs 700 crore Meerut-Bulandshahr highway project.

APCO Infratech, Ashoka Buildcon, Sadbhav Infrastrcture and PNC infratech are in the fray for the 62 km long project that will be awarded under the newly conceived hybrid annuity model.

The project is expected to be awarded by National Highways Authority of India (NHAI) by the end of this month

“We have called both technical and financial bids. The project will be awarded immediately after the evaluation is done,” a senior NHAI official said.

The Hybrid Annuity Model (HAM) is a mix of engineering, procurement and construction and build-operate-transfer formats, with the government and the private companies sharing the project cost 40:60.

Under HAM, land acquisition and environment clearances are handed over to private contractor before construction is started.

The toll is collected by the government and a fixed annuity with a profit margin given to the private partner.

The development of the Delhi-Meerut Expressway covering 49.35 km and costing Rs 3,210 crore will also be under the HAM model .The government will be offering equitable annuities to successful bidders.

The roads transport and highways ministry is looking at awarding 1,300 km of national highway projects under the new model tarhe current financial year. The government has identified 19 road projects, entailing an investment of Rs 14,300 crore that will be awarded under the new model.