HighwaysLatest NewsNews Snippets

NHAI Invites Bids for 1,513 Cr. Highway Project in Maharashtra

National Highways Authority of India (NHAI) has floated a tender for execution of Package VI of Surat-Nashik-Ahmednagar-Solapur Economic Corridor (Surat – Solapur Expressway). This six-laning highway project, estimated to cost Rs. 1,513.2 crore, will be executed in Hybrid Annuity Mode (HAM)* as part of the Bharatmala Pariyojana program.

Scope of work in this project includes six-laning of a 54.54 Km-long stretch connecting Chincholi Gurav to Momin Akhada (from Km 190.560 to Km 245.100) in Maharashtra. The successful bidder will execute this project on Design, Build, Operate, and Transfer (DBOT) basis.

Last date to submit bids for this tender is 26th February 2024.

*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. The government pays a fixed annuity to the private player for a certain amount of time as defined in the contract.