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1.The union government on Wednesday approved the hybrid annuity model for building national highways, paving the way for construction of 28 projects worth Rs. 36,000 crore this fiscal year.
2.The move will speed up the construction of roads in the country by renewing interest of private developers in highway projects as the risk will be distributed between the government and the private players.
3.The government plans to build 28 national highway projects worth Rs.36,000 crore this fiscal year, a senior Road Ministry official told The Hindu.
4.Under the public-private partnership (PPP) model, the government will invest 40 per cent of the construction cost for building highways and the balance will come from the private developer. The government will invest money in five equal instalments based on the targeted completion of the road project.