Rameshwar-Paradip Highway Project worth Rs. 8,300 Cr. Approved
Public Private Partnership Appraisal Committee (PPPAC) of the Ministry of Finance (MoF) has approved a Rs. 8,300.79 crore highway project connecting Rameshwar to Paradip in Odisha. National Highway Authority of India (NHAI) is expected to float tender for construction of this project once it gets approval from the Cabinet Committee on Economic Affairs (CCEA).
This 160.18 Km stretch is a part of the 346 Km greenfield Odisha coastal highway project, will be built on a Hybrid Annuity Mode* (HAM) in two phases: a four-lane section from Rameshwar to Kakatpur which will be 79.4 Km in length and a two-lane stretch with paved shoulders from Kakatpur to Paradip which will be 80.78 Km long.
The project will also include construction of associated bridges, flyovers, and rail overbridges. Specifically, it involves the construction of 36 major bridges, 89 minor bridges, 376 culverts, 3 flyovers, 6 viaducts, 3 Road Over Bridges (ROBs), and 45 vehicle underpasses.
*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.
