Hybrid Annuity Projects: - 'Study of HAM in Highway Construction Projects-Owner and Contractor Prospective'

12 Pages Posted: 18 Apr 2019

See all articles by Vishvandra Singh

Vishvandra Singh

Visvesvaraya National Institute of Technology (VNIT) - Department of Construction Technology and Management

Mangesh Madurwar

Visvesvaraya National Institute of Technology (VNIT)

Date Written: April 16, 2019

Abstract

India has embarked on a brisk pace of highway development following the policy change in the mid-1990s that gave a high priority to highway development in India. The National Highway Development Programme (NHDP) was launched in 1997 to develop a large highway network in a relatively short period of time. The Public Private Partnerships (PPP) model was adopted for highway development in India, given the intrinsic advantages associated with it over conventional models. Pursuant to the policy decision, a large number highway development contracts were awarded under the Build, Operate and Transfer (BOT) variant of PPP model and other variants with further development of policy’s Design, Build, Finance, Operate and Transfer (DBFOT) models were awarded and finally now National Highway Authority of India (NHAI) has adopted Hybrid Annuity Model (HAM) for highway development at rapid pace. This paper first discuss the various features of HAM in road sector of India, later it compares the Hybrid Annuity Model (HAM) with the conventional DBFOT model of road development so as to find out the advantages and risk associated with HAM both for client & contractor prospective, which will help the stake holders to analyze the latest trends of HAM projects awarded by NHAI.

Keywords: Road Development, Highway, NHAI, HAM, DBFOT, Risk

Suggested Citation

Singh, Vishvandra and Madurwar, Mangesh, Hybrid Annuity Projects: - 'Study of HAM in Highway Construction Projects-Owner and Contractor Prospective' (April 16, 2019). Proceedings of Sustainable Infrastructure Development & Management (SIDM) 2019, Available at SSRN: https://ssrn.com/abstract=3372915 or http://dx.doi.org/10.2139/ssrn.3372915

Vishvandra Singh (Contact Author)

Visvesvaraya National Institute of Technology (VNIT) - Department of Construction Technology and Management ( email )

India

Mangesh Madurwar

Visvesvaraya National Institute of Technology (VNIT) ( email )

Nagpur 440011
India

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