MoRTH ने BOT हाईवे प्रोजेक्ट्स को सॉवरेन वेल्थ, इन्फ्रास्ट्रक्चर और प्राइवेट इक्विटी फंड्स के लिए खोला — PPP नीति में बदलाव

<p>The <span class="key-term" data-definition="Ministry of Road Transport and Highways — the central government ministry responsible for formulation and implementation of policies related to road transport and highway infrastructure (GS2: Polity)">MoRTH</span> has issued a revised <span class="key-term" data-definition="Public-Private Partnership — a collaborative model where the government partners with private sector entities to finance, build and operate infrastructure projects, crucial for economic development (GS3: Economy)">PPP</span> framework that now permits large institutional investors to bid for <span class="key-term" data-definition="Build‑Operate‑Transfer — a project delivery model where a private entity finances, constructs, operates and later transfers a facility to the government after a concession period (GS3: Economy)">BOT</span> highway projects. Earlier, only <span class="key-term" data-definition="Toll‑Operate‑Transfer — a concession model limited to toll‑based revenue streams, restricting participation to private developers (GS3: Economy)">TOT</span> projects could attract such investors.</p> <h3>Key Developments</h3> <ul> <li>Four highway projects worth <strong>₹22,000 crore</strong> failed to attract bids under the earlier BOT model, prompting the policy revision.</li> <li>The new RFP allows <span class="key-term" data-definition="Sovereign Wealth Fund — state‑owned investment funds that manage national savings for long‑term returns, often used for strategic infrastructure financing (GS3: Economy)">Sovereign Wealth Funds</span>, infrastructure funds, pension funds and private equity to participate.</li> <li>Bidder eligibility now includes natural persons, private entities, government‑owned entities, <span class="key-term" data-definition="Alternative Investment Fund — a collective investment vehicle registered with SEBI, encompassing venture capital, private equity and other non‑traditional funds (GS3: Economy)">AIFs</span>, foreign investment funds or any consortium thereof.</li> <li>Financial strength of institutional investors will be the primary assessment criterion; technical expertise can be sourced from concessionaires or engineering partners post‑award.</li> <li>The concession period remains at <strong>20‑30 years</strong>, during which the concessionaire finances, builds and operates the highway before transferring it back to the state.</li> </ul> <h3>Important Facts</h3> <p>National highways are executed through multiple models: <span class="key-term" data-definition="Engineering, Procurement and Construction — a contract where a single entity is responsible for design, procurement and construction, commonly used for large infrastructure projects (GS3: Economy)">EPC</span>, <span class="key-term" data-definition="Hybrid Annuity Model — a financing structure that blends government equity with private sector debt, reducing fiscal burden while attracting private capital (GS3: Economy)">HAM</span>, <span class="ke