About Utkarsh MahaMarg
Utkarsh MahaMarg is an initiative by the Government of Maharashtra to ensure swift completion of state highway projects. It incorporates its own modified Hybrid Annuity Model (HAM), which outdoes other Public Private Partnership Models in terms of payment ratio and project period. The campaign aims to fast-track the development of roads and highways in Maharashtra and is diligently managed, executed and monitored by the Public Works Department.
The Hybrid Annuity Model Benefits
Having modified the Hybrid Annuity Model, the Maharashtra Public Work Department is set to open bids worth Rs. 30,000 Crores for 10,000 Kms. of Road
Increased Government Funding
The Govt. will provide funding for 60% of the project cost at various milestones till the completion of construction period
Reduction in O&M Period
The period has been reduced from 15 years to 10 years resulting in early recovery of the revenue by the concessionaires
Linking of Inflation Index to O&M Payments
For safeguarding the concessionaires from future increase of prices, the Inflation Index has been linked to O&M Payments
No Land Acquisition
As all the projects are Brown Field, there is no requirement of Land Acquisition thus, removing one of the major reason in project delay
Faster Completion of Projects
For faster completion and better project management, the size of road work packages has been reduced from 100 km to 50 km
Establishment of Project Management Unit (PMU)
For quick resolving of issues and smooth functioning of the projects, a PMU will be established under the monitoring of Public Works Department, Maharashtra which will be overlooked by Honourable Minister Shri. Chandrakant Patil.
Join the Initiative of Utkarsh MahaMarg
Become a part of the Road Construction in Maharashtra by asking your queries here