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Mint Explainer: What Has Changed In The New HAM Highway Contract?
(MENAFN- Live Mint) The ministry of road transport and highways (MoRTH) has introduced a new Model Concession Agreement (MCA) on 18 September for highway projects awarded under the Hybrid Annuity Model (HAM), replacing the framework used for earlier projects.
The new MCA covers the entire project cycle, from conditions precedent and right-of-way to construction payments, operation and maintenance, termination and dispute resolution. It also introduces more granular milestones and monitoring mechanisms.
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