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Highway developers get lease to prepare final bids

Business

The highways ministry, in order to give highway developers time to tide over election-time uncertainties and prepare well before bidding for projects, is planning to offer relief measures like doubling of the financial bidding period, apart from providing detailed project reports this time around.
Also in order to achieve a presentable project award level, it plans to award about 3,300 km by March 31. Also in the financial year it has so far achieved only 1,600 km as against the original target which was set at around 7,300 km. Highway projects that are opened for bidding after March will have a 90-day window for developers to prepare and make their final bids instead of the usual 45-day period. However, expressway projects coming up within this financial year will also be allowed the longer request for proposals (RFP) window.

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