The Road Ministry is considering drafting a new contractual framework for building expressways that will be more investor-friendly. The new model concession agreement (MCA) for expressways will address the issue of revenue collection and overcome the limitations of the existing contractual agreement. The National Highway of Authority of India has created a separate division to handle big expressway projects, including the Eastern-peripheral expressway, Delhi-Meerut expressway and Mumbai-Vadodra expressway.
The projects are worth nearly Rs.30,000 Cr. The new framework is likely to propose higher toll rates for expressways. The Road Ministry is keen to consult multilateral agencies such as the World Bank, Asian Development Bank or Japan International Cooperation Agency for technical assistance in drafting the new MCA.