NHAI Invites Bids for Rs. 753 Crore Greenfield Karnal Ring Road Project
National Highways Authority of India (NHAI) has invited bids for the construction of a 6-lane greenfield ring road in Karnal, Haryana. The estimated cost of this project is Rs. 753.47 crore.
This 34.5 Km-long ring road will begin from NH-44 near Shamgarh village, and end at Karnal – Munak Road (MDR -115) near Samalakha village. The ring road project, which has a completion period of 24 months, will be developed under Hybrid Annuity Model (HAM)*.
This project is a part of Bharatmala Pariyojana in Haryana.
*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.