The Indian Government has set out plans to award highway projects worth at least US$8.84 billion during the next fiscal year. These projects will be offered under the hybrid annuity model, according to a report in the Economic Times. KPMG has stated that some 21 projects for a total of 1,500km and worth close to a third of that sum will be granted by the Indian Government in the current fiscal year. India’s Ministry of Road Transport and Highways has sought budgetary support from the Ministry of Finance and will grant a major tranche of highway projects in the next fiscal year. Under the new model, around 6,000km of highway projects will be granted by the Indian Government.
In India’s Karnataka State, work is due to commence on the upgrade of a highway connecting Mysuru and Bengaluru to six lanes. Construction work is expected to start and should be complete by 2018, with an estimated cost of US$515.65 million. This will most likely be carried out under a build-own-operate-transfer (BOOT) basis. The work on the 117km route will cut congestion and help reduce travel times.
