“What is to be noted is that that the model concession agreement has been in place since 1.5-2 years and there has been hardly any progress in the period. Most of the projects that were done in 2006 were a carry forward of those launched in 2004,” said Jayesh Desai National director Infrastructure, Real Estate and Government Services.

The senior industry expert also said that a period of 45 days prescribed by the NHAI for submission of bids is not enough to assess the inherent risks in a project.

Even though the government has faced flak for its incompetence in awarding PPP projects from developers, the story remains the same with annuity as well. Of the 25 projects awarded upto July 31, 2008 it managed completion of only 8. The total estimated investment for these projects was Rs 9,412 crore of which projects worth Rs 2,354 crore achieved financial closure.