The Hybrid Annuity Model (HAM) projects initiated by the National Highways Authority of India (NHAI) have played a crucial role in advancing road development in India. CareEdge Ratings conducted a comprehensive study to assess the status of execution, the challenges faced, and the financial implications of HAM projects. This study is centred on 306 NHAI HAM projects awarded to 62 distinct sponsors. These projects encompass an extensive total length of 12,700 km, with a combined Bid Project Cost (BPC) of Rs. 3.35 lakh crore and debt aggregating Rs. 90,000 crore. It offers a comprehensive overview of NH HAM projects awarded between FY16 to FY23 and serves as a sequel to CareEdge Ratings’ article titled: “Indian Road Sector: Navigating a smooth journey?”, published on May 11, 2023.
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