Government Revises BOT Road Project Agreement to Share Risks and Rewards Equitably

Union Road Transport and Highways Minister Nitin Gadkari announced modifications to the model concession agreement for Build Operate Transfer (BOT) road projects to ensure equitable sharing of risks and rewards between the government and contractors. Projects worth Rs 2 lakh crore with 10-15 year defect liability periods are planned. The government is addressing 350 landslide-prone areas with Rs 40,000 crore allocated and preparing a new scheme involving cost-sharing with states for highway construction. Improved tolling methods aim to eliminate queues by year-end.