The National Highways Authority of India (NHAI) awarded four-laning contract for the Lucknow-Sultanpur highway section in Uttar Pradesh to Dilip Buildcon.
The Rs.2,845 crore contract awarded under the fourth phase of the National Highways Development Project will cover the 127-km stretch on National Highway (NH)-56.
Under the hybrid annuity model, risks are split between the developer and the government while the private partner bears construction and maintenance risks.
Financing risks are shared by government and the road developer in the ratio of 40:60. The developer has protection against revenue or inflation risks.
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