The Hybrid Annuity Model (HAM) unveiled with great fanfare earlier this year was expected to set off the next wave of award of PPP highway projects. The intent and purpose of introducing HAM, as a hybrid of EPC and BOT (annuity) formats, was noble and deserves to be lauded: to moderate risks faced by highway developers and to provide financial support during construction.
Tag: force majeure
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Sterlite declares force majeure
D Dhanavel, General Manager of projects at Sterlite Industries (India) informed that the firm exercised force majeure on purchases of copper concentrates, the base material used by the plant. The company took this move following the recent closure of its smelter plant in Tamil Nadu after complaints of a gas leak