National highways Authority of India (NHAI) has invited bids for the development of Package 11 of the Varanasi-Ranchi-Kolkata highway in Jharkhand under the Bharatmala Priyojana. The estimated cost of this tender is Rs. 1,394.36 crore.
Scope of work under this tender entails the construction of a six-lane, greenfield highway of 36.9 Km length, from Donoreshan village to the point where NH-20 meets Bongabar village. This section will be developed under the Hybrid Annuity Mode (HAM)*.
Last date for the submission of bids for this tender is 28th February 2023.
*Hybrid Annuity Model (HAM) refers to a mode of Public-Private-Partnership (PPP) wherein the government and the private player share the project expenses in a 40:60 ratio respectively. After the private player develops the project, it is handed over to the government. Government pays a fixed annuity to the private player for a certain amount of time as defined in the contract.