11-09-2017 09:00 AM | Pooja Nevewani | My Indian Dream
Check out, more 10,000 kilometer stretch of roads in Maharashtra
Maharashtra Chief Minister said that the public works department of the state government will soon float tenders and announce to build 10,000-kilometer roads.
The timeline for issuing tenders is set as October and for work, orders will be the following month. The state is also thinking of handing over road contracts, but this time with a minimum road length of about 100 kilometers instead of earlier 2 kilometers. All this is done to encourage the engagement of big companies in the project and to bring transparency in the work. The contracts would be given based on hybrid annuity model framed on the guidelines by the Centre. The hybrid annuity model is a framework for a public-private partnership and an engineering procurement contract. In this model, the government contributes to 40 percent and the private companies contribute the rest of the share. The private counterpart later recovers its investment over the next 15 to 20 years from installments from the government.
Along with the road building contracts, road maintenance contracts would also be given with a minimum of 10 kilometers.
Union Minister Nitin Gadkari is also extending his help to the state government in their project.
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