In an effort to reduce project disputes and encourage private risk capital, the centre intends to release a revised model concession agreement (MCA) for build-operate-transfer (BOT) greenfield highways by April 2025. With many greenfield projects currently under bidding and more projects expected to receive bids in the next 3-4 months, this modification is expected to provide much-needed reassurance to the contractors.
Since the government wants to concentrate on high-speed corridors for effective logistics that demand enormous amounts of resources, revitalising the BOT model is crucial. Moreover, around 53 projects worth Rs 2.1 trillion have been planned under the BOT model.
In the long term, the centre plans to extend high-speed lanes from 4,500 km to 50,000 km, in a phased manner. Moreover, around 18,000 km of highways are expected to be constructed in the next five to six years.